China SAFE: China will improve its regime and make Yuan more flexible

Wang Chunying, a spokeswoman for China's forex regulator, the State Administration of Foreign Exchange (SAFE), told a news conference in Beijing on Friday that China will make Yuan more flexible.

Key Headlines:

China's fx market has seen increasing net capital inflows recently.

China's fx market will maintain stable, balanced overall in 2020.

China's current account expected to maintain small surplus in 2020.

The Chinese yuan trades with sizeable gains vs. the US dollar so far this Friday amid phase one trade deal optimism and as the recent upbeat Chinese activity data point towards an economic stabilization. USD/CNY hit fresh half-yearly lows at 6.8535 an hour ago, now trading around 6.8585, still down 0.27% on the day.