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Chinese yuan’s rally prompts authorities to warn on one-way bets on the currency

Last updated on May 29, 2021

The Chinese yuan extended gains against the US dollar on Friday but the pace of the rally slowed after authorities signaled some concerns over strong one-way bets on the currency.

The yuan has risen this year against all but six of the 31 major currencies. The yen is almost 8 per cent weaker versus China’s exchange rate, while South Korea’s won has fallen about 5 per cent and the greenback has lost 2.3 . . .

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