China's foreign exchange regulator pledges to maintain yuan exchange rate flexibility

BEIJING, April 22 (Reuters) - China's foreign exchange regulator pledged on Tuesday to strengthen monitoring of foreign exchange and maintain exchange rate flexibility.

The yuan's two-way fluctuations were normal market reactions after the U.S. announced "reciprocal tariffs" and reflected economic fundamentals' support for the currency, the regulator said in Tuesday's statement.

The State Administration of Foreign Exchange said it would correct pro-cyclical market activities, prevent currency overshooting risks and fend off abnormal cross-border capital flows.