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Yuan Might Climb Further from 6.61: Daily

CHINA PRESS

The yuan could appreciate further after trading at 6.61 to the US dollar on Nov. 9, the highest level since June 2018, the Economic Information Daily reported on Tuesday citing Li Chao, an economist from Zheshang Securities. China is obtaining both trade and capital surpluses, while the U.S. registered an unprecedented fiscal deficit above 15% of GDP, both of which helped boost the yuan, the Daily cited Lian Ping, the chief economist of Zhixin Investment. The yuan's internationalization and the further opening of the Chinese financial market should push further appreciation and attract more investors and traders into the Chinese financial markets, Lian told the Daily.

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