No Yuan Panic Seen After Fixing’s Cut to Five-Year Low: Chart

China’s lowering of the yuan’s fixing to the weakest since 2011 hasn’t unnerved traders just yet. Unlike January, when sharp cuts spurred fears of a devaluation, the spot rate fell just 0.08 percent on Wednesday to 6.5644 per dollar, and is trading at stronger levels than the reference rate. Still, investors will be looking at the fixing’s adjustments to gauge whether policy makers are seeking faster depreciation amid sluggish export growth and a resurgent dollar.

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