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Tuesday, October 4, 2022

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China Cuts Forex Reserve Ratio in Bid to Support Tumbling Yuan

“The cut shows the PBOC’s stance to slow the yuan’s depreciation pace, but is unlikely to reverse the course,” said Ken Cheung, currency strategist at Mizuho Bank Ltd. “The action was partially expected following a series of stronger yuan fixings and the impact should prove to be mild,” he added.

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