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Yuan Seen to Maintain Two-way Fluctuations: Daily

CHINA PRESS

The yuan is likely to fluctuate around the current level after a period of strength, as the dollar index has reached a phasic low and a stronger yuan threatens to pressure exports, the Economic Information Daily reported citing Xu Gao, an economist at BOC International. The yuan has been propelled by China's better prevention and control of the pandemic and widening Sino-U.S. interest rate differentials, Xu said. The PBOC will continue to ensure the yuan's flexibility through macro-policies and the balance of payments, the newspaper said citing recent comments by Sun Guofeng, the head of the PBOC's Monetary Policy Division.

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