China’s Economy to Further Support Yuan: Journal

The yuan's strength against the dollar will continue to be supported by China's economic fundamentals despite a four-session slide after reaching 6.8 against the dollar, Zhang Qinfeng, a reporter from the China Securities Journal wrote in a commentary. The dollar's status as a safe haven currency may cause it to rebound in the near term, even as the dollar index is set for long-term decline given the easing policies in the U.S., Zhang wrote. The yuan would reflect China's improving economy including rising employment and consumption, its conventional monetary policies and the inflow of foreign capital, according to Zhang.