China's SAFE says will forcefully prevent sharp volatility in the yuan

<p>Earlier from SAFE (China's State Administration of Foreign Exchange):</p><ul><li><a href="https://www.forexlive.com/centralbank/chinas-fx-regulator-says-commercial-banks-bought-83bn-of-forex-in-june-vs-33bn-in-may-20230721/" target="_blank" rel="follow" data-article-link="true">China's FX regulator says commercial banks bought $8.3bn of forex in June vs $3.3bn in May</a></li><li><a href="https://www.forexlive.com/centralbank/more-from-chinas-safe-expects-foreign-investors-to-keep-buying-yuan-denominated-assets-20230721/" target="_blank" rel="follow" data-article-link="true">More from China's SAFE – expects foreign investors to keep buying yuan-denominated assets</a></li></ul><p>SAFE with more specific yuan comments now:</p><ul><li>
Yuan flexibility is increasing, market understanding of two-way
fluctuation and 'risk neutral' also increased</li><li>Fed tightening is
coming to an end, spillover effect is weakening</li><li>Will keep yuan
basically stable at balanced levels in a forceful manner</li><li>Will prevent sharp
volatilities in the yuan exchange rate</li><li>Will comprehensively use policy measures to stabilise expectations </li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.