PBOC Gives Yuan Unyielding Support for Record 54 Straight Days

(Bloomberg) — China’s support for the under-pressure yuan shows no sign of fading with a now record streak of daily reference rate boosts yet to drag the managed currency away from a near 16-year low.

The People’s Bank of China set the so-called fixing at a stronger-than-expected level for a 54th straight day on Thursday, the longest since Bloomberg started the daily survey in 2018. The streak has now surpassed one seen last year in the midst of China’s zero-Covid policy.