Yuan Trading Surges, Yen Strengthens
Yuan bears are turning rallies in the Chinese currency into increasingly short-lived affairs. Every time China’s central bank has strengthened its yuan fixing by more than 0.3 percent over the past month, the currency erased initial gains on larger-than-average volumes, according to data compiled by Bloomberg. On days when fixings were cut by the same amount, trading was subdued. Rabobank Senior Foreign-Exchange Strategist Jane Foley discusses with Anna Edwards and Manus Cranny on "Bloomberg Surveillance."