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Fails to Sustain Rally

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CHINA PRESS
CHINA PRESS: The resilience of China's economy will keep the yuan exchange rate
stable, reported by Shanghai Securities, citing experts, after the yuan closed
at 6.5433 on Monday - recording the biggest drop since September last year. 
  - The strong US dollar and the huge policy divergence between China and the
U.S. have resulted in the fall of the yuan, said Zhang Ming, chief economist of
Ping An Securities. 
  - That said, the yuan will not drop severely, and two-way fluctuations between
6.1 and 6.7 should be expected over the year, said Cheng Shi, chief economist of
ICBCI, according to the newspaper. 
  - The depreciation of the yuan mainly resulted from changes in short-term
market sentiment; but the overall trend is still determined by the Chinese
economy, said Guan Tao, former official of State Administration of Foreign
Exchange, according to the newspaper.

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