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Yuan Seen To Fluctuate Between 7.1-7.3

CHINA PRESS
MNI (Singapore)
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The yuan will likely fluctuate between 7.1-7.3 against the U.S. dollar in H2, as China’s good economic fundamentals and rich exchange-rate management tools ensure basic stability, Securities Daily reported, citing Wen Bin, chief economist at Minsheng Bank. China’s large trade surplus and sufficient FX reserves will provide support, while U.S. Federal Reserve cuts expected in September will weaken external constraints, said Wang Youxin, senior researcher at the Bank of China Research Institute.

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The yuan will likely fluctuate between 7.1-7.3 against the U.S. dollar in H2, as China’s good economic fundamentals and rich exchange-rate management tools ensure basic stability, Securities Daily reported, citing Wen Bin, chief economist at Minsheng Bank. China’s large trade surplus and sufficient FX reserves will provide support, while U.S. Federal Reserve cuts expected in September will weaken external constraints, said Wang Youxin, senior researcher at the Bank of China Research Institute.