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Yuan Strength Allows Monetary Easing: Times

CHINA PRESS
MNI (Singapore)

The yuan has sufficient strength to allow China to pursue independent monetary easing, the Securities Times reported citing analysts. Even as the Federal Reserve's expected rate hike may weaken the Chinese currency, the depreciation will be manageable, as the current strong yuan matches the economic fundamentals, the newspaper said citing Zhang Yu, chief analyst of Huachuang Securities. The yuan is expected to reach 6.35 against the U.S. dollar by the end of December and 6.1 by 2023 yearend, supported by high current account surplus of about USD380 billion per year and increasing holdings of yuan assets, the newspaper said citing Xiong Yi, chief economist of Deutsche Bank China.

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