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Did the People’s Bank of China Let the Yuan Go?

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China’s Congress Is Over: Has PBOC Just Let The Yuan Go? BY TYLER DURDEN TUESDAY, OCT 25, 2022 – 08:45 PM By Ye Xie, Bloomberg Markets Live reporter and analyst Until Tuesday, the People’s Bank of China had been fighting against yuan depreciation via strong fixings. However, the defense crumbled a bit as soon as the Communist Party Congress was over. The fixing on Tuesday wasn’t as strong as it was in previous sessions, even as the yuan fell to the lowest since 2007. Is that a fluke or has the PBOC showed more tolerance for yuan depreciation? Wednesday’s fixing will tell us…

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