Yuan Rally To Continue In December - Securities Daily

The rally in the yuan against the dollar in late November can continue as the outlook for China's economy improves, said Securities Daily citing experts. It said recent yuan resilience reflected improving sentiment following policy changes that optimised epidemic controls, stabilised the property market, and promoted strong domestic fundamentals. Citing experts, the newspaper said the expected December slowdown in Fed rate hikes will weaken the dollar and drive capital inflows into yuan assets. Due to global uncertainties and weakening exports, businesses should use financial derivatives to manage risk, and increase the use of the yuan in foreign trade transactions, the newspaper said.