Final SDR Push Sends Yuan Sharply Higher

Bloomberg: Yuan Rises Most Since 2005 as PBOC Mulls Easing Capital Controls
The yuan surged the most since China scrapped a dollar peg in 2005 as the central bank said it will consider a trial program in the Shanghai free trade zone allowing domestic individual investors to directly buy overseas assets.

...China may dismantle capital controls by 2020, people familiar with the matter said last week.
Easing capital controls raises the value of the yuan because it makes the yuan more useful. In the current state of things, however, this increase in value that comes from being able to move in and out of China, is dwarfed by the potential demand for foreign assets.

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