Reported 4 months ago
According to a Bloomberg analysis, the Chinese yuan is likely to rebound in the next three months based on historical trends. The analysis suggests that the yuan tends to strengthen after nearing the weak side of its trading band against the dollar. Analysts attribute this potential rebound to the People's Bank of China's patient approach, waiting for a shift in the dollar's performance. The yuan, facing pressure from a potentially strengthening dollar and weak policy support for China's growth, has been kept relatively stable by the PBOC due to the wide interest-rate gap favoring the dollar and increasing capital outflows.
Source: YAHOO