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Yuan To Stabilise Around 6.75 By End-August-Yicai Poll

CHINA PRESS

The Chinese yuan is likely to remain stable by the end of August, with an average forecast of 6.75 against the U.S. dollar, compared with the 6.7434 on July 29, Yicai.com reported citing 17 economists it polled. Major non-U.S. currencies such as the euro and the yen may continue to weaken into August as the Federal Reserve’s aggressive rate hikes will support the dollar in the short term, Yicai said citing Lian Ping, president of Zhixin Investment Research Institute. These economists expect the yuan to strengthen to 6.68 against the dollar by the end of 2022, the newspaper said.

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The Chinese yuan is likely to remain stable by the end of August, with an average forecast of 6.75 against the U.S. dollar, compared with the 6.7434 on July 29, Yicai.com reported citing 17 economists it polled. Major non-U.S. currencies such as the euro and the yen may continue to weaken into August as the Federal Reserve’s aggressive rate hikes will support the dollar in the short term, Yicai said citing Lian Ping, president of Zhixin Investment Research Institute. These economists expect the yuan to strengthen to 6.68 against the dollar by the end of 2022, the newspaper said.