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Yuan to Be Volatile on Rising Dollar Index: Times

CHINA PRESS
MNI (Singapore)

The Chinese yuan may remain volatile in the near future as the U.S. dollar index is expected to rebound on economic recovery and the Federal Reserve's upcoming monetary tightening, the Securities Times reported citing analysts. The dollar index, which has traded about 92, could move upward further if the European Central Bank fails to follow the tightening, though the dollar may not have the basis for a long-term substantial strengthening given the U.S. high deficit rate, the newspaper cited analysts as saying. Yuan appreciation may slow but its strength won't be completely reversed given China's sound economic fundamentals and neutral monetary policy, which will attract foreign capital, the newspaper said.

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