Yuan will remain under pressure – Commerzbank – Crypto News – Crypto News
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PBoC set a stronger-than-expected yuan fixing for the seventh day PBoC set a stronger-than-expected yuan fixing for the seventh day

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Yuan will remain under pressure – Commerzbank – Crypto News

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The Yuan has weakened against the Dollar by over 3% year to date. Economists at Commerzbank analyze USD/CNY outlook.

China-US interest rate differentials will persist in the near term

While the Yuan strengthened in recent weeks towards 7.10 amid a generally weaker Dollar, it will remain under pressure. 

China-US interest rate differentials will persist in the near term, albeit narrower, while China’s economy is still in search of a more stable footing. The PBoC will likely continue to use the daily fixing to guide the Yuan and prevent one-sided weakening.

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