ICYMI – PBOC Governor warned on yuan slide, will ‘guard against risk of overshoot’

Justin had the news from the People’s Bank of China here:

• PBOC governor will maintain yuan exchange rate at a reasonable, balanced level

PBOC governor Pan Gongsheng emphasized the Bank will not let the yuan plummet without a fight:

• Will step up countercyclical adjustment
• Should resolutely guard against the risk of exchange rate overshoot

With the surging USD after Trump’s win the yuan is just one of many weaker currencies:

This article was written by Eamonn Sheridan at www.forexlive.com.