Yuan Dive?
Since December, when the US Federal Reserve began tapering its monthly purchases of long-term assets, emerging-market currencies have fallen across the board, with the Chinese renminbi recently joining the trend. But when it comes to the renminbi's exchange rate, the People's Bank of China, not the Fed, calls the tune.
BERKELEY – Since December, when the US Federal Reserve began tapering its monthly purchases of long-term assets, emerging-market currencies have fallen across the board.