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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Laura He

Laura He

Before joining the Post, Laura worked for MarketWatch and The Wall Street Journal Digital Network in San Francisco and Hong Kong. She has also worked for Forbes in San Francisco and had stints at Xinhua News Agency as economics editor, anchor and financial correspondent in both Beijing and Hong Kong. She has an MA degree in digital journalism from Stanford University and passed CFA exams.