Well, this is a symbolic remark as it comes with USD/CNY firmly breaching 6.90 to start the new week and hitting a two-year high of 6.94 earlier in the day here. China is starting to pump the brakes on the latest yuan decline and this looks to me that they are more than likely to draw a hard line on the latest yuan depreciation near 7.00 against the dollar.
PBOC deputy governor: Don't bet on one-way moves in the yuan
- Remarks by the Chinese central bank
