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Yuan Unlikely To Depreciate Sharply Against Dollar-Journal

CHINA PRESS
MNI (Singapore)

The yuan is unlikely to see another sharp depreciation against the U.S. dollar, as the dollar index has limited upward space while the Chinese economy has bottomed out, the China Securities Journal reported citing analysts. The dollar index is unlikely to break through the high range of 105 to 106 in the short-term following the Fed’s June rate hike, the newspaper said citing a report by Nanhua Futures Co. The yuan will remain basically stable at a balanced level in Q3 with increasing two-way moves, the newspaper said.

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The yuan is unlikely to see another sharp depreciation against the U.S. dollar, as the dollar index has limited upward space while the Chinese economy has bottomed out, the China Securities Journal reported citing analysts. The dollar index is unlikely to break through the high range of 105 to 106 in the short-term following the Fed’s June rate hike, the newspaper said citing a report by Nanhua Futures Co. The yuan will remain basically stable at a balanced level in Q3 with increasing two-way moves, the newspaper said.