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Yuan firms as dollar slips, PBOC rejects undervaluation claims amid EU talks
SHANGHAI: The yuan firmed against the US dollar on Friday as the greenback retreated from an 18-month high, even as China’s central bank rejected claims the currency is undervalued amid trade talks between Beijing and the European Union. The People’s Bank of China on Thursday pushed back against foreign criticism of its exchange-rate policy, saying it has never pursued competitive depreciation, as European policymakers call for a stronger yuan to help curb China’s record trade surplus and export surge. The remarks came as European Union trade officials began two days of talks with their Chines...
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