China FX regulator says will use policy measures to stabilise yuan expectations

BEIJING, July 21 (Reuters) – China’s foreign exchange
regulator said it will comprehensively use policy measures to
stabilise market expectations, at a time when the yuan currency
faces renewed downside pressure.

The remarks were made by Wang Chunying, spokeswoman at the
State Administration of Foreign Exchange (SAFE).

China’s yuan has lost about 4% to the dollar so
far this year, one of the worst performing Asian currencies,
pressured by widening yield differentials with the United States
and signs of a faltering economic recovery.

(Reporting by Beijing Newsroom; Editing by Kim Coghill)