Authorities prepared to deal with yuan swings

Monetary authorities are adequately prepared to deal with short-term fluctuations of the yuan amid lingering trade friction between China and the United States, economists said on Tuesday.

Authorities are expected to come out with concrete measures to safeguard the currency value after the onshore yuan hit the weakest level in four months on Monday, following tariff hikes on imports by both sides.

China increased tariffs on the bulk of its $60 billion worth of US imports to 10 percent, 20 percent and 25 percent, effective June 1.