No intention of devaluing Yuan – China’s Li

FXStreet (Mumbai) - China’s Vice President Li assured markets today that the country has no intention of devaluing Yuan.

The financial markets have been speculating an all out currency war after the PBOC devalued its Yuan and changed its FX policy in August and again devalued the currency this month.

Key Quotes

"The fluctuations in the currency market are a result of market forces, and the Chinese government has no intention and no policy to devalue its currency"