China's better economic data and international diplomacy are behind the Chinese central bank's move to lower its currency's exchange rate fixings, says BofA Merrill Lynch Global Research in a report. The People's Bank of China lowered its U.S. dollar to RMB fixing by 257 pips (one pip is equal to 1/100th of 1%) over June […]

Visit ChinaMoneyNetwork.com for more daily finance news, including audio and video Internet podcasts covering important investment news and financial events in China. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.