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Yuan Plunge Nears 14-Year Low, Inviting Aggressive PBOC Pushback

If all other currencies continue to weaken, the PBOC won’t defend the 7.2 level at all costs, said Alicia Garcia Herrero Asia Pacific chief economist at Natixis SA. However, if the pace of depreciation accelerates in the run-up to the party congress, “the PBOC will stem it off,” she said.

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