Yuan to Maintain Two-way Fluctuations: Herald report

The yuan is likely to maintain two-way fluctuations given uncertainties such as movements in the dollar index, lower export demand due the pandemic, the slow economic recovery and rising protectionism, Liu Ying, a researcher from Renmin University's Chongyang Institute for Financial Studies, commented to the 21st Century Business Herald. The yuan is unlikely to be on an appreciation trajectory as any abrupt movements could damage China's international trade, said Liu. Monetary policies will likely target liquidity and keep the currency fluctuating at an appropriate level, Liu told the Herald.