China’s yuan strengthens despite firming US dollar, analysts expect downward pressure next year

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The Chinese yuan strengthens supported by continued seasonal corporate demand, even as the US dollar strengthens after US President Joe Biden's decision to reappoint Federal Reserve Chai Jerome Powell for a second term emboldening bets of higher US interest rates.

The onshore yuan hit 6.3825 per US dollar on Tuesday and prior to the market opening, the People's Bank of China (PBOC) set the yuan's daily fixing at 6.3929 per . . .

 

 

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