PBOC Sticks With Yuan Support In Face of Resurgent Dollar [Yahoo! Finance]
SOCIETE GENL FRNCE S/ADR (SCGLY)
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Source: Yahoo! Finance
Most Read from Bloomberg Under Trump, Prepare for New US Transportation Priorities Zimbabwe City of 700,000 at Risk of Running Dry by Year-End Saudi Neom Gets $3 Billion Loan Guarantee From Italy Export Credit Agency Sace The Urban-Rural Divide Over Highway Expansion and Emissions Arizona Elections Signal Robust Immigration Enforcement Under Trump The People's Bank of China set the so-called yuan fixing at 7.1966 per dollar, about 359 pips stronger than the average estimate in a Bloomberg survey. On Wednesday, the gap between the fixing and estimate was 445 pips, the widest since early August. The yuan has come under pressure alongside global peers as Donald Trump's US election victory bolstered the dollar to its highest in two years. Concern that his administration would impose 60% tariffs on Chinese goods, potentially decimating Sino-US trade is also weighing on the currency. Before Wednesday, the PBOC had largely refrained from sending any strong signals in support
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