'Do not bet': China's central bank warns against yuan speculation
The Chinese yuan weakened past the closely-watched 7.2 level against the greenback this week. Getty Images BEIJING — The People's Bank of China has warned against betting on the yuan, after its rapid decline against the U.S. dollar this week. "Do not bet on a one-sided appreciation or deprecation of the renminbi exchange rate ," the central bank said in a Chinese statement on its website late Wednesday, according to a CNBC translation. related investing news El-Erian says Bank of England's latest rescue move shows we are still in central bank 'la-la land' John Melloy 14 hours ago The S&P 500 falls to a fresh low for the year. Here's where stocks may go next Patti Domm a day ago Analysts are falling back in love with Nvidia, with Citi giving it almost 100% upside Weizhen Tan 2 days ago That's based on a readout of a speech by vice governor Liu Guoqiang at a video conference meeting on foreign exchange that day. The renminbi, or the yuan, cros...