China Hitches Yuan to the Dollar, Buying Rare Calm
China’s central bank is effectively anchoring the yuan to the dollar, a policy twist that has helped stabilize the currency in a year of political transition and market jitters about China’s economic management. [Lingling Wei & Saumya Vaishampayan] May 25th, 2017 [The Wall Street Journal] The yuan weakened more than 6% against the dollar in…