Analysts say China’s major devaluation of the yuan in August 2015 had little effect on broader exchange-rate policy
The devaluation by the People's Bank of China was supposed to bring exchange rates more in line with supply and demand, as well as weaken the yuan's tie to the U.S. dollar, but an analysis by Societe Generale finds the relationship between the two currencies to be "as strong as ever."
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Oct 21, 2016