China premier Li says will not resort to competitive devaluation of the yuan

Comments by China premier Li Keqiang, via state television

  • Will push forward with yuan market-based reform
  • Will keep yuan basically stable within a reasonable, balanced range
The usual commentary coming out of China on the matter. Even with USD/CNY rising from 6.35 to 7.00 this year, the rhetoric remains more or less the same. In the case of the yuan, actions always speak louder than words.
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