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Weak Yuan to Have Limited Impact - Analysts

CHINA PRESS
MNI (Singapore)

The threat of a break in the yuan through 7 against the U.S. dollar will have a limited impact on capital flows and longer term sentiment towards the currency, the China News Service reported citing analysts. The level of the yuan is less important than stable cross-border capital flows, the newspaper said citing Zhong Zhengsheng, chief economist at Ping An Securities. Previous breaches of the 7 level in 2019 and 2020 show it is unlikely the currency will overshoot sharply to lower levels.

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