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CHINA PRESS: Yuan To Stabilise, Rise Against Dollar By Year-end

CHINA PRESS
EM BulletAPACChinaEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

The yuan will likely stabilise and then rise given the U.S. dollar’s weakening trend, China's economic improvement, and increasing foreign exchange settlement by year-end, the central-bank-run Financial News reported, citing experts. The newspaper said the greenback will further weaken as institutional investors tend to sell off dollar assets to ensure year-end profits. Further yuan support will come as Chinese firms increase forex settlement during seasonal peak month of December, and as China's goods trade surplus expanded by 12.9% y/y in the first 11 months, the newspaper said.

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The yuan will likely stabilise and then rise given the U.S. dollar’s weakening trend, China's economic improvement, and increasing foreign exchange settlement by year-end, the central-bank-run Financial News reported, citing experts. The newspaper said the greenback will further weaken as institutional investors tend to sell off dollar assets to ensure year-end profits. Further yuan support will come as Chinese firms increase forex settlement during seasonal peak month of December, and as China's goods trade surplus expanded by 12.9% y/y in the first 11 months, the newspaper said.