Investors have been warned to guard against fluctuations in the value of the yuan as China moves towards a market-based regime, South China Morning Post reported, citing the top currency regulator. Speaking on Monday, Yi Gang, head of the State Administration of Foreign Exchange, declined to respond to rising market speculation that Beijing was readying to widen the band in which the yuan traded, currently set at no more than 1% either side of the reference rate set by the central bank every day, saying instead that greater two-way movement should be expected as a more market-oriented trading regime took shape.
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