So says Scotiabank on what to watch for after the upcoming G20 meeting:
- "After G-20 ends next Monday, the market may want to test how much yuan depreciation the PBOC can tolerate," said Gao Qi, a strategist at Scotiabank in Singapore. "China doesn't want the yuan to move too much during G-20 and become a topic of discussion. SDR's impact will be smaller than G-20."
More at Bloomberg
(ps. I already noted earlier today the RMB has hit a new low (against its basket)
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The G20 meeting concludes on September 6 with the leaders summit