Source: China – South China Morning PostA recent rally in China’s yuan has been primarily fuelled by stronger guidance from its central bank rather than by market forces, analysts said, pointing to a mostly steady US dollar index.
However, they noted, this period of strengthening is likely to remain measured, as Beijing prefers to avoid harming the competitiveness of its exporters amid trade tensions with the United States.
Over just five trading days last week, the People’s Bank of China pushed the yuan’s reference rate against the…Read More