China to intervene to keep the yuan from strengthening much further – Experts
|Industry experts warn of a probable intervention by the Chinese policymakers in the coming months, in order to stem the appreciation of the yuan.
“China will intervene to keep the yuan from strengthening much further and then controlling a slow depreciation as the US economy recovers,” Derek Scissors, at the American Enterprise Institute and also Chief Economist at China Beige Book, said.
Separately, Dan Rosen, a senior associate at the Center for Strategic and International Studies, noted: “There is nowhere for it to go but down. Over the course of 2021, the question will be how much does the renminbi subside against the dollar."
"I think we're going to see them intervene to put some bands around [the yuan], Rosen added.
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