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Yuan Reverses Excessive Depreciation - Herald

CHINA PRESS
MNI (Singapore)

The sharp rise in the yuan against the U.S. dollar retraced some of the currency's excessive depreciation this week, helped by a fall in the U.S. Dollar Index, the 21st Century Business Herald reported after both the onshore and offshore yuan strengthened over 1,000 points on Wednesday. Many asset management institutions view the yuan as undervalued against the dollar, which had rallied on expectations the Federal Reserve would continue to hike rates but have now been questioned by weak U.S. economic data, the newspaper said. The yuan will continue to fluctuate in a wide range amid changing expectations, the newspaper said citing analysts.

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