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No Market Consensus on Yuan Appreciation: News

CHINA PRESS

The yuan is likely to move both ways rather than on a clear path of appreciation, the Shanghai Securities News reported citing Guan Tao, chief economist of BOCI Securities. The market remains divided after the currency surged past 6.8 against the dollar, the newspaper said. Some analysts, including Chief Economist Gao Shanwen of Essence Securities, have argued that the yuan has entered a strong phase supported by increasing Chinese exports and the depreciation of the dollar, the News said.

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