City Index: yuan to hit seven within a month
China’s yuan has not seen such levels for more than a decade, but trade war with US induces flirtation
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China’s currency could weaken to seven yuan against the dollar within the next month, amid renewed greenback strength brought on by the Federal Reserve’s cautious approach to cutting interest rates, says Kelvin Wong, chief technical strategist for Asia at City Index, which topped last week’s currency forecast rankings table.
The Fed cut rates by 25 basis points on July 31, calling it “insurance” as it attempts to
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