Bears Beware, Yuan Slide May End Soon as China Anniversary Looms
- 70th anniversary of the People’s Republic comes on October 1
- Beijing has history of stabilizing currency before big events
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A recent slide that sent the yuan to a decade low will probably be short-lived.
That’s because a key political event -- the 70th anniversary of the People’s Republic of China’s founding -- is on Oct. 1, giving officials a reason to stabilize the exchange rate in the next few weeks. Traders are pricing in muted swings in the yuan, with a gauge of expected volatility touching the lowest in more than two weeks on Thursday.