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The yuan's small-range fluctuation......>

CHINA PRESS
CHINA PRESS: The yuan's small-range fluctuation against the U.S. dollar is
expected to last for some time, the China Securities Journal reported Tuesday.
As both the yuan's parity and exchange rate have weakened slightly, traders
said, the strengthening of the dollar index has placed pressure on the parity,
which on Monday dragged down the exchange rate. The dollar lacks the momentum to
strengthen further, and the market does not have an obvious indication that the
yuan will depreciate or appreciate, traders said, which will result in a small
range of fluctuation. Shenwanhongyuan Securities predicted that the yuan
exchange rate would maintain relative stability and slightly strengthen. As
China's international payments continue to improve, it added, the exchange rate
could appreciate by 2% to 3% and the yuan could land somewhere between 6.40 to
6.48 against U.S. dollar. (China Securities Journal)

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