Yuan correction short-term, no one-way depreciation – China Press
|“The yuan is likely to maintain a two-way fluctuation and market participants should not bet on a prolonged one-way decline,” China’s newspaper - Economic Daily said in an opinion piece on Wednesday.
Additional quotes
“China will likely maintain its support policies, including an appropriate monetary environment, as its economic recovery is unbalanced, the global pandemic outlook remains uncertain and the domestic inflation is moderate and controllable.”
“Yuan assets, including stocks and bonds, continue to attract foreign holdings with large growth potential.”
“The dollar's appreciation may also be constrained, helping keep China-U.S. rate spread stable, as the Federal Reserve will slow its policy normalization to prevent bursting asset bubbles.”
USD/CNY in daily lows
USD/CNY was last seen trading at 6.4737, modestly flat on the day, retreating from just below the 6.4800 level.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.