PBOC changes the way it manages Yuan after currency's jump

Bloomberg quoted people familiar with the matter, as saying that the PBOC "has made a change to the regime used to manage the Yuan by removing a component used by banks to calculate their submissions to the currency’s daily reference rate".

The people said that the Chinese central bank recently told some lenders that contribute to the rate, known as the fixing, to adjust their use of the “counter-cyclical factor” in such a way that it would have no impact on the mechanism.