The People’s Bank of China strengthened the currency’s fixing to the strongest in seven months following a rate increase by the US Federal Reserve Wednesday night. Photo: Reuters

Yuan stable as PBOC guides currency to 7-month high after Fed lifts rates

Analysts expect Fed to remain cautious in reducing its balance sheet, yuan unlikely to face significant depreciation pressure in near term

Topic |   Yuan

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The People’s Bank of China strengthened the currency’s fixing to the strongest in seven months following a rate increase by the US Federal Reserve Wednesday night. Photo: Reuters
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