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China Yuan May Strengthen Against Dollar This Year: Journal

CHINA PRESS
MNI (Sydney)

The yuan is expected to further appreciate against the U.S. dollar this year, supported by the steady recovery of the Chinese economy, relatively low valuations of yuan assets and a weakening dollar, the China Securities Journal reported citing analysts. Yuan internationalisation faces new opportunities as foreign investors reduce the proportion of their holdings of U.S. debt to the lowest level since 2008, the newspaper said. The large expansion of the Fed's balance sheet and surging U.S. debt following the pandemic continue to weaken the dollar, the newspaper said.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com

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