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Yuan Strength To Continue Into 2023 - Securities Daily

CHINA PRESS

The yuan’s recent strength can continue as China’s economy and yuan assets become investment safe havens amidst a global slowdown in 2023, according to the Securities Daily. The yuan recently reclaimed the 6.9 mark against the dollar as end-of-year liquidity requirements, an extension of trading hours, increased weighting in the International Monetary Fund's Special Drawing Rights, and Covid optimisation measures increased market support for the yuan. The impact of the strong U.S. dollar on the yuan will weaken in 2023, and China's economic recovery amid a global downturn will boost demand for yuan assets and capital inflows.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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