China’s Foreign Min: China won't resort to Yuan depreciation for competitive purposes in trade

Dhwani Mehta FXStreet

The Chinese media came out with a story, citing the recent comments from a spokesman for China's Foreign Ministry following the reports that the US is pressing China to keep the Yuan stable as part of a trade agreement.

The Chinese Foreign Ministry spokesman noted that the country will not use the Yuan’s exchange rate as a bargaining chip to resolve trade disputes with the US.

Additional Comments:

China won't resort to currency depreciation for competitive purposes in trade.

Hopes the US can respect market rules and not politicize currency issues.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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