China Central Bank Slows Yuan’s Rise as it Grows Against Dollar

The yuan traded at 6.7837 per dollar on Monday, June 8, and is 3.1% stronger against the dollar year to date. But, China’s central bank is doing something very unusual: trying to stop its own currency from rising.

The recent rise has made the yuan one of the best-performing emerging-market currencies since the Iran war began. This is despite the US jobs report, which doubled forecasts, driving the…