The Yuan’s Wild Year: Devaluation Panic Gives Way to Steady Drop
- Options traders are least bearish in almost two years
- PBOC will avoid volatility ‘at all costs,’ Mobius says
ANZ's Goh: Yuan's Fate Rests With Structural Reforms
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One year after China roiled markets by devaluing its currency, the nation’s central bank appears to be firmly back in control.
While the yuan has continued to decline, both against the dollar and a basket of trading partners, investor panic has dissipated. Options traders are the least bearish on the yuan in almost two years, outflows have slowed and a gauge of volatility has declined to its lowest level since November.