The Chinese yuan stabilized against the dollar on Wednesday after touching its lowest levels in around 11 months overnight. Reports that the People\u2019s Bank of China assured markets the central bank would keep the currency stable were cited as supporting the yuan.<\/p>\n
Yi Gang, governor of the PBOC, said in a statement on Tuesday that the central bank would closely monitor fluctuation in the forex market and would take action to keep the yuan at a stable and reasonable level.<\/a><\/span><\/p>\n The yuan tumbled in June and lost more than 3% against the greenback as concerns of a Sino-U.S. trade war haunted investors.<\/p>\n The\u00a0<\/span>USD\/CNY<\/a><\/span>\u00a0<\/span>pair was down 0.16% at 6.6316 by 12:15AM (04:15 GMT) on Tuesday, although traders are likely to remain on edge ahead of the July 6 deadline when the U.S. tariffs on $34 billion in Chinese goods are due to take effect.<\/p>\n","protected":false},"excerpt":{"rendered":" The Chinese yuan stabilized against the dollar on Wednesday after touching its lowest levels in around 11 months overnight. Reports that the People\u2019s Bank of China assured markets the central bank would keep the currency stable were cited as supporting the yuan. Yi Gang, governor of the PBOC, said in Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[9,10,1],"tags":[],"class_list":["post-834","post","type-post","status-publish","format-standard","hentry","category-homepage","category-latest-news","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/834","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/comments?post=834"}],"version-history":[{"count":1,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/834\/revisions"}],"predecessor-version":[{"id":835,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/834\/revisions\/835"}],"wp:attachment":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/media?parent=834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/categories?post=834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/tags?post=834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}