Volatility in China's yuan due to escalating U.S. trade friction – PBOC official

Volatility in China's yuan due to escalating U.S. trade friction - PBOC officialYICHUN, China/ SHANGHAI, Aug 11 (Reuters) – Volatility in China’s yuan since August is a normal market reaction to escalating trade frictions stoked by the United States and was caused, to some extent, by Washington’s decision to raise tariffs, a senior Chinese central bank official said. Zhu Jun, director-general of the People’s Bank of China’s international department, made the comments on Saturday to a forum held in the northern Chinese province of Heilongjiang. The U.S. Treasury Department on Monday labelled China a currency manipulator, hours after China let the yuan drop through a key support level to its lowest point in more than a decade.



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