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CHINA YUAN
CHINA YUAN: The yuan is likely to maintain its strength and extend its upward
momentum this year, Financial News, a newspaper owned by the People's Bank of
China, said in a commentary Thursday. Rising imports and exports during the
first three quarters this year point to a recovering global economy and ease the
negative impact from earlier concerns about the impact of anti-globalization
movements, the newspaper said. The likelihood of a "dovish" Jerome Powell taking
over as Fed chairman may help reduce the likelihood of a rate hike in December,
the paper argued. A stable domestic economy and the yuan's internationalization,
have helped make the currency resilient, the newspaper said. (Financial News)