China widens trading band
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Chris Turner, head of FX strategy research at ING wholesale banking in London said the core message from Friday's action was to seek to improve the FX trading system and enhance flexibility. He said the timing of the move looked very much a function of this week's second Strategic Economic Dialogue taking place between US and Chinese officials in Washington.
"In theory, this now allows the CNY to appreciate 0.5% against the previous day's USD/CNY official fixing. In practice, the PBoC [People's
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