Traders suspected the PBOC intervened to prop up the yuan on Friday and squeeze short sellers to defy this week’s downgrade of China’s credit rating by Moody’s. Photo: Reuters

Yuan jumps to 3-month high as central bank intervenes to squeeze currency bears

Analysts think the strengthening in the yuan’s exchange rate is a ‘warning’ to short sellers from the Chinese central bank

Topic |   Yuan

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Traders suspected the PBOC intervened to prop up the yuan on Friday and squeeze short sellers to defy this week’s downgrade of China’s credit rating by Moody’s. Photo: Reuters
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