Yuan Bears Wakened by Rate Cut Ignore PBOC’s Signal: Currencies

Efforts by China’s central bank to signal it will let the yuan strengthen even as it grapples with a slowing economy are being lost on currency strategists.

While the People’s Bank of China raised the yuan’s reference rate to an eight-month high last week, some of the biggest voices in foreign-exchange markets say it will decline after policy makers cut interest rates for the first time since