PBOC's Yi Gang: PBOC to speed up FX market development

FXStreet (Bali) - PBOC's Deputy Governor Yi Gang is crossing the wires, noting the Chinese Central Bank is planning to speed up FX market development.

Aug 13, 2015

USD/CNY breaks above 6.43, very volatile market

USD/CNY is trading in very volatile conditions at the open of the Chinese markets, currently trading above the 6.43 level after a PBOC Yuan reference rate of 6.4010 vs prior close 6.3858. Note, the prior fix (Wednesday) was at 6.3306.

PBOC: Differnce between fixing, market rate corrected last 2 days

PBOC briefing on the Yuan is underway, with some headlines crossing now the wires.