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Yuan depreciation expectations have.....>

CHINA PRESS
CHINA PRESS: Yuan depreciation expectations have weakened, but not completely
reversed, the People's Daily reported Monday, noting it is normal for yuan
exchange rate to experience two-way fluctuations. Considering the Federal
Reserve is expected to continue to hike rates and start shrinking its balance
sheet, the U.S dollar will not continue to fall so the market should not be
overly optimistic about the impact of the external environment on the yuan
exchange rate, the report warned, citing analysts. Given the market is playing a
more decisive role in determining changes in the yuan exchange rate and Chinese
economic fundamentals are providing strong support, there is reason for the yuan
to appreciate further, the report said. The market should have a clear
understanding of the trend of yuan exchange rate and not be confused by
irrational opinions, the report added. (People's Daily)

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