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Yuan Strength Limited, Unlikely to Rise Past 6 on USD: Guan Tao

CHINA PRESS
MNI (Sydney)

The Chinese yuan may not maintain last year's momentum through the early part of this year, and is unlikely to trade past 6 against the U.S. dollar in 2021, Guan Tao, chief economist of BOC International and a former official at the State Administration of Foreign Exchange, said in a forum on Wallstreetcn.com on Thursday. The PBOC is likely to increase yuan flexibility, control capital inflows and expand outflows to ease the pace of appreciation, even as it has refrained from forex market interventions, Guan said. The yuan closed at 6.5340 at 16:30 Beijing time Thursday, hitting the weakest level this year. MNI noted.

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