China relaxes its controls on yuan's trading band

China's central bank has loosened its currency controls further over the weekend.

The People's Bank of China (PBOC) widened the yuan's trading band, doubling it to 1% of the midpoint price, set every day by the central bank.

The move was welcomed by the US, which has often accused Beijing of keeping the value of the yuan artificially low to help its exporters.

Olivier Desbarres, head of foreign exchange strategy at Barclays, spoke to the BBC's Asia Business Report.

  • Published
  • Section
    BBC News