China FX regulator: US designating China a currency manipulator is groundless

Citing Chinese news agency Xinhua, Reuters reported that China's foreign exchange regulator said on Wednesday the United States designating China a currency manipulator is groundless and does not accord to facts.

"We welcome foreign investors, including those from the US to allocate yuan-denominated assets," the regulator said. "We will keep forex management policies stable and consistent."

The regulator also argued that the US trade policy will seriously worsen the global economic and trade environment and hurt global growth.

These remarks don't seem to be impacting the market. As of writing, the US Dollar Index was up 0.13% on the day while the 10-year US Treasury bond yield was erasing more than 5%.