Market optimism for the Chinese currency continues to rise, with analysts projecting the yuan to appreciate further against the US dollar amid a stronger-than-expected domestic economy and growing concerns over US debt sustainability.
On Tuesday, the People’s Bank of China set its daily reference rate at 7.1534 per US dollar – strengthening from Monday’s 7.1656, and the strongest level since early November.
In June, the onshore yuan appreciated by 0.41 per cent against the greenback, bringing…
Why China’s yuan is forecast to keep strengthening against the US dollar
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