The population of the yuan fell stronger; The IMF states that China is using regulations

The yuan continued to decline Wednesday after reaching the lowest level in 13 months on the previous session. Yesterday, the International Monetary Fund (IMF) said that there is no evidence that Chinese authorities intervened in the exchange rate of the Chinese currency. Mury Obstfeld, chief economist of the IMF, said, "They [the Chinese government] did not interfere with their forex market as we could see." He said other elements in the Chinese economy are burdened up to the yuan, includes lower growth, lower interest rates and trade tensions with the United States. The IMF commentary was given after the US President Donald Trump accused China and the European Union to manipulate their currency on Friday last Friday in a tweet. China answered on Monday that the government did not intend to break the currency to promote exports in the context of the U.S.-China trade war. The pair USD/CNY rose 0.17% to 6.8029 at 10:36 ET (02:36 GMT), although recently China has pumped 74 billion in medium-term loan credit for PBOC. On Monday, China has also announced a series of measures aimed at enhancing economic growth, including a 10 billion dollar cut, spending 199 billion on infrastructure and US $20.57 billion for about 150,000 small and micro companies each year. The country's economy rose 6.7% in the second quarter, marking the slowest growth rate for nearly two years. Meanwhile, the U.S. dollar index term of 9 months increased by 0.02% to 94.41, while the Japanese yen reduced the price at 111.29 dollars a dollar when the pair USD/JPY rose 0.09%. U.S. President Donald Trump and European Commission chairman Jean-Claude Juncker will meet in Washington to negotiate a commercial focus on Wednesday. Shinichiro Kadota, a strategist of the senior exchange rate at Barclays, said: "If there is an additional trade problem, that can hurt the risk and pressure on the dollar/yen". Elsewhere, the AUD/USD rate is less than 0.1% at 0.7412 after China says they will pursue a "stronger" fiscal policy.