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Yuan to Remain Resilient in H1: Daily

CHINA PRESS
MNI (Singapore)

The Chinese yuan is expected to remain stable in H1 2022 supported by continued high exports growth, while the impact from narrowing China-U.S. interest spread and the Federal Reserve’s upcoming tightening will be limited, the Securities Daily reported citing Ming Ming, deputy research head of CITIC Securities. Though the yuan may face depreciation pressure in H2 as overseas production capacity recovers and the Fed hikes rates further, the risk of capital outflow will remain limited given China's controls over capital accounts, said Ming. The offshore yuan has increased by 0.21% against the dollar so far this year, despite China-U.S. interest spread falling back within 100 bps for the first time since May 2019, the newspaper said.

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