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Yuan’s Recovery Gains Momentum as Seasonal Tailwind Kicks In

From bnnbloomberg.ca

China’s yuan is set to be boosted by year-end tailwinds and by speculation its recent rebound will encourage exporters to step up dollar sales, analysts say. The currency has strengthened in both November and December in each of the past six years, with the biggest gains coming in 2022, according to data compiled by Bloomberg. The yuan tends to rise in these months as exporters need more local currency to meet cash demand before year-end and Lunar New Year, China International Capital Corp. said in a report. The yuan has been one of Asia’s worst-performing currencies this year, meaning many companies have been ... (full story)

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  • Category: Fundamental Analysis