China to expand yuan trading band

FXStreet (Bali) - China is planning to expand yuan trading band, according to the Chinese State Council, Reuters reported earlier. A potential weekend announcement is now being expected by some traders.

Additional headlines, via Reuters, note that China cabinet says is planning to expand two-way fluctuation range for yuan exchange rates and study introduction of products to help firms mitigate exchange rate risks. China cabinet also said to cut import taxes on some daily necessities.