CNY undervalued? - Westpac

FXStreet (Guatemala) - Analysts at Westpac noted that the US Treasury's semi-annual FX report included a view that CNY is "below" medium term valuation rather than "significantly undervalued" as of the April report.

Key Quotes:

"Overall then, the US Treasury report concedes that CNY is less obviously overvalued than in April but is reserving judgement on the PBoC’s new approach to the daily USD/CNY fixing. The US remains unhappy about the lack of transparency on FX intervention in China, Korea and Taiwan but sounds more concerned about the latter two"