Reported about 1 month ago
China's yuan faces mounting pressure as traders speculate on Donald Trump's potential return to the U.S. presidency, possibly resulting in higher trade tariffs that could further weaken the currency. Despite recent stimulus efforts from Beijing, the yuan has been experiencing a decline since early 2023 due to China's sluggish economy and low interest rates. Analysts predict that if Trump wins, the yuan could depreciate significantly in response to trade tensions, pushing enterprises to hoard dollars while avoiding conversion of foreign earnings back to yuan.
Source: YAHOO