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Chinese Yuan May Weaken In Q3, Strengthen Again In Q4-Daily

CHINA PRESS
MNI (Singapore)

The yuan may come under certain pressure in Q3 but likely strengthen again in Q4, the Securities Daily reported citing Wang Youxin, senior researcher at Bank of China Research Institute. Stimulated by the Fed's continued sharp rate hikes, the U.S. dollar index will still be supported in Q3, but the index may turn around in Q4 amid rising risk of U.S. economic recession, the newspaper said citing Wang. Rising cross-border capital inflows due to international investors’ increased allocation of yuan assets to diversify risks, and a stable trade surplus, will support the basic stability of the yuan, the daily cited Wang as saying.

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