The Traderszone Network

Published in TZ Latest News 12 August, 2015 by The TZ Newswire Staff

China central bank under pressure to weaken yuan further – sources

China’s move to devalue its currency reflects a growing clamor within government circles for a weaker yuan to help struggling exporters, ensuring the central bank remains under pressure to drag it down further in the months ahead, sources said. The yuan has fallen almost 4 percent in two days since the central bank announced the devaluation on Tuesday, but sources involved in the policy-making process said powerful voices inside the government were pushing for it to go still lower.

read more