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Yuan To Be Under Near-term Pressure

CHINA PRESS
MNI (Singapore)

The People’s Bank of China will likely maintain intensity for supporting the Yuan to ensure limited depreciation of the currency which faces pressure in the near term, said analysts from CITIC Securities. Asian currencies have been further suppressed by election uncertainty in major countries which has increased demand for safe havens and strengthened the U.S. dollar index. Meanwhile, China’s economic fundamentals have not improved significantly, with housing stimulus not yet taking effect and risks from Sino-EU trade friction, said analysts from Donghai Futures. (Source: 21st Century Business Herald)

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