China Growth Momentum Is Stable, Says Minikin

The yuan fell by the most in three weeks after a better-than-expected U.S. jobs report fueled speculation the Federal Reserve will raise interest rates this year. China’s central bank cut its daily reference rate to the lowest in more than a week after a gauge of dollar strength climbed Friday. A U.S. report released over the weekend showed that non-farms job figures rose by more than expected. China’s exports remained sluggish last month, customs data show, and imports slumped. The nation’s foreign-exchange reserves were little changed in July, data showed Sunday, suggesting an easing of capital outflows. Standard Chartered Bank Head of Asia FX Strategy Robert Minikin discusses with Bloomberg's Francine Lacqua on "The Pulse."

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