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Yuan to Maintain Two-way Fluctuation: Daily

CHINA PRESS

The Yuan exchange rate will likely maintain a steady two-way movement under the influence of multiple factors, reported the Securities Daily citing Xu Gao, the head economist from BOC International. As the dollar index reaches a "phasic bottom", China's fast economic recovery and tighter monetary policies provide a boost for the strengthening of the yuan, Gao said. A stronger yuan, however, pressures exports in turn, and the strength of other currencies such as the euro will also help limit the yuan's gains, Xu told the Daily.

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