Ex-PBOC Governor Zhou: China still has room for further rate cuts but …

Dhwani Mehta FXStreet

Reuters reports the latest comments from the former People’s Bank of China (PBOC) Governor Zhou Xiaochuan, as he says that China still has room for further rate cuts.

However, he adds that he is unclear whether that can effectively avert a potential financial crisis.

The headlines failed to impress the Yuan markets, as the Chinese currency remains under pressure vs, the US dollar near three-week lows. USD/CNY hit multi-week highs of 7.0450 in the opening trades before receding to now trade near 7.0390, still up 0.10% on the day.

USD/CNH: Yuan drops as trade deal uncertainties rise

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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