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SHANGHAI (Reuters) - China's yuan is unlikely to continue depreciating rapidly, the state-owned Securities Times said in a front-page commentary on Thursday, as currencies continue to be pressured by a U.S. dollar boosted by hawkish Federal Reserve monetary tightening.
Prudent balance of payments has lent support and led somewhat "restrained" losses in the yuan compared with peers, the newspaper said.
"As long as market expectations can be stabilized , and as the policies to support domestic economic growth continue to take effect, it will be hard for the dollar index to bring huge volatility to the yuan," it said.
The yuan has fallen more than 11% against the dollar so far this year and looks set for its biggest annual decline since 1994.
#china #chinatown #CHINANEWS #trading #tradingview #tradingforex #news #newsupdates #newstock #newsupdate #tradingmemes #tradingstrategy #forextrader #forex #forextrading #forexmarket #Forex_Market
Forex News
SHANGHAI (Reuters) - China's yuan is unlikely to continue depreciating rapidly, the state-owned Securities Times said in a front-page commentary on Thursday, as currencies continue to be pressured by a U.S. dollar boosted by hawkish Federal Reserve monetary tightening.
Prudent balance of payments has lent support and led somewhat "restrained" losses in the yuan compared with peers, the newspaper said.
"As long as market expectations can be stabilized , and as the policies to support domestic economic growth continue to take effect, it will be hard for the dollar index to bring huge volatility to the yuan," it said.
The yuan has fallen more than 11% against the dollar so far this year and looks set for its biggest annual decline since 1994.
#china #chinatown #CHINANEWS #trading #tradingview #tradingforex #news #newsupdates #newstock #newsupdate #tradingmemes #tradingstrategy #forextrader #forex #forextrading #forexmarket #Forex_Market