China sees large yuan moves as 'unfavourable'

A senior People's Bank of China official said on Saturday 18 March that large movements in the yuan against the dollar are "unfavourable" for the economy.

PBOC vice-governor Wu Xiaoling was speaking before a fact-finding mission to China by US Senators Charles Schumer and Lindsey Graham gets under way. The two Senators have co-authored a bill threatening a blanket 27.5 pct tariff on Chinese imports in the absence of significant currency reform.

"They should understand China's economic

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