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China Pledges More Forex Flexibility

Posted By Alfonso Esparza On In FX,Newsfeed | Comments Disabled

China will gradually expand the yuan trading band to help make the currency more flexible and market-driven, central bank chief Zhou Xiaochuan said in remarks seen on Tuesday.

The People’s Bank of China will gradually exit from regular intervention on the foreign exchange market, Zhou said in remarks in a book on reforms published after a key meeting of the Communist Party’s leadership.

Last week, China’s leaders unveiled a reform agenda for the next decade, pledging to let the market play a”decisive” role in the economy and outlining sweeping changes to unleashfresh growth drivers.

via CNBC [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

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