No excessive Yuan devaluation if the economy stabilizes – PBOC advisor

FXStreet (Mumbai) - As per Livesquawk reports, the People’s Bank of China (PBOC) advisor assured markets that there will be no excessive Yuan devaluation if the economy stabilizes.

Earlier today, the PBOC economist said they would ease cross border investment in yuan as they raised the net inflow cap for yuan pooling. In response, the offshore CNY was set for its biggest single daily gain on record.