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“This was an important move to augment earlier initiatives by the Federal Reserve and the European Central Bank to stabilize volatile global financial markets this week,” wrote DBS analysts in a note Friday, referring to the moves by China’s central bank to fix the yuan’s rate below 6.4 yuan to the dollar Thursday.
“This was an important move to augment earlier initiatives by the Federal Reserve and the European Central Bank to stabilize volatile global financial markets this week,” wrote DBS analysts in a note Friday, referring to the moves by China’s central bank to fix the yuan’s rate below 6.4 yuan to the dollar Thursday.