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One-way Bets on Yuan to Lose: Newspaper

CHINA PRESS
MNI (Singapore)

The Chinese yuan's future movement is uncertain and companies should adapt to the norm of two-way fluctuations and hedge risks for both ways instead of betting on either appreciation or devaluation, said the PBOC-run newspaper Financial News citing a statement by the China FX Market Self-Regulatory Framework. The yuan could depreciate in the future on the Federal Reserve's withdrawal from quantitative easing, U.S. dollar rally driven by the strong recovery, rebounding overseas supply pressuring China's exports and the rise of global risk aversion following the bursting of U.S. asset bubble, the newspaper said citing the body.

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