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China "has effectively weaponized the exchange rate" and may let it drop further, "probably by 5-10% over the coming quarters," says Capital Economics.
China's central bank increased its gold reserves in March for the fourth consecutive month, continuing a major spree in buying of the precious metal.
US and Chinese officials on Monday were set to begin two days of talks in Beijing. Ahead of the talks, President Donald Trump predicted "good things."
As the yuan holds close to its lowest levels in more than a year, China's central bank announced on Friday it will raise the amount of cash required to set aside when buying dollars through currency forwards.
Sources told Reuters that China's central bank instructed the country's banks to follow UN sanctions against North Korea.
The People's Bank of China is loosening some restrictions that were added to soften depreciation pressures on the yuan.
The wording of the People's Bank of China's edict suggests all cryptocurrency activity is illegal, an eToro China exec tells Business Insider.
Chinese officials have hailed supply-side reforms to tackle overcapacity problems in the nation, but that can be a dangerous distraction.