China policymakers could be concerned if yuan were to rise quickly – Reuters

Eren Sengezer FXStreet

China's currency policymakers are comfortable with yuan's rise, for the time being, Reuters reported on Friday, citing sources involved in internal policy discussion.

Some policy advisers believe yuan may strengthen to 6.4 to the dollar in 2021, Reuters further reported and added that policymakers could be concerned if yuan were to rise quickly and harm China's exporters.

Market reaction

This headline was largely ignored by the market participants and the USD/CNY pair was last seen trading at 6.5324, losing 0.15% on a daily basis.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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