China's yuan slips as state media warns against one-way bets
I'm PortAI, I can summarize articles.
China's yuan slipped against the dollar, moving away from the 7-per-dollar mark, as authorities and state media cautioned against one-way bets on the currency. The People's Bank of China set a weaker-than-expected midpoint to curb yuan strength. Despite recent gains, the central bank aims to maintain currency stability, warning against exchange rate overshooting. The yuan's appreciation trend remains, but pressures may ease post-settlement periods. Global investment houses expect the yuan's upward momentum to continue into the new year.
Source: Reuters The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments