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Yuan May Print At 6.70-6.95 Against Dollar By Year-end -Yicai

CHINA PRESS
MNI (Singapore)

It is widely expected that there will be some depreciation pressure on the yuan in Q4, given the upward trend of the U.S. dollar index, with most foreign banks’ year-end forecasts for the yuan sitting between 6.70 and 6.95 against the dollar, Yicai.com reported. This round of yuan depreciation will be milder than what was seen in the second quarter as the Chinese economy is still likely to recover in H2, with fiscal stimulus and monetary easing kicking in, the newspaper wrote, citing HSBC. Some analysts believe any yuan movement will be tied to the degree of resilience observed in Chinese exports through the remainder of the year, the newspaper highlighted.

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