Free Trial
AUSSIE 3-YEAR TECHS

(Z2) More Stable, But Remains Fragile

MNI

Coming up in the Asia-Pac session on Friday:

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Yuan Under Short-term Depreciation Pressure-Yicai

CHINA PRESS

The Chinese yuan is under short-term depreciation pressure, against a backdrop of unusually loose domestic liquidity, weakening Chinese economic data and as the U.S. dollar index remains at a high level, Yicai.com reported, citing an unnamed trader at a state-owned bank. The direction of the yuan will mainly be dependent on trade balance gyrations, and the currency may continue to trade sideways around current levels if exports can maintain their strong trend, the newspaper wrote, citing analysts. The yuan weakened after the PBOC’s surprise rate cut earlier this week, although it has moved away from post-cut lows, when measured against the U.S. dollar, the newspaper noted.

106 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

The Chinese yuan is under short-term depreciation pressure, against a backdrop of unusually loose domestic liquidity, weakening Chinese economic data and as the U.S. dollar index remains at a high level, Yicai.com reported, citing an unnamed trader at a state-owned bank. The direction of the yuan will mainly be dependent on trade balance gyrations, and the currency may continue to trade sideways around current levels if exports can maintain their strong trend, the newspaper wrote, citing analysts. The yuan weakened after the PBOC’s surprise rate cut earlier this week, although it has moved away from post-cut lows, when measured against the U.S. dollar, the newspaper noted.