China’s central bank has doubled the daily trading band for the yuan starting on Monday, The Wall Street Journal reported. The yuan will be able to trade as much as 2% on either side of what is known as the parity rate, a daily peg for trading of the yuan against the US dollar that is set by the central bank. It was previously 1%. The easing comes as China’s economy is testing a 15-year low in year-on-year growth, leading to questions of whether Beijing would continue its economic and financial overhauls or pull back to help struggling companies.
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