Source: China – South China Morning PostMarket optimism for the Chinese currency continues to rise, with analysts projecting the yuan to appreciate further against the US dollar amid a stronger-than-expected domestic economy and growing concerns over US debt sustainability.
On Tuesday, the People’s Bank of China set its daily reference rate at 7.1534 per US dollar – strengthening from Monday’s 7.1656, and the strongest level since early November.
In June, the onshore yuan appreciated by 0.41 per cent against the greenback, bringing…Read More