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Yuan Depreciation Pressures To Ease - Herald

CHINA PRESS
MNI (Singapore)

The yuan will continue to fluctuate both ways instead of continuing its recent sharp depreciation as it is supported by China’s pro-growth policies, current account surplus, and sufficient counter-cyclical tools, said the 21st Century Business Herald in a commentary. The growing expectation for a dovish turn by the Federal Reserve and European Central Bank amid increasing fears of recessions could weaken the U.S. Dollar Index and ease some depreciation pressure on yuan against the dollar, the newspaper said. There are plenty of regulatory tools the People’s Bank of China can use, such as continuing to lower the foreign exchange deposit reserve ratio and implementing its counter-cyclical factor, to ensure the yuan fluctuates within a reasonable range, the newspaper said.

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