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HSBC highlight two continuing headwinds that'll drive the Chinese yuan even lower

HSBC highlight two continuing headwinds that'll drive the Chinese yuan even lower
HSBC say that CNY could face more headwinds from China’s persistent run of weak data and further widened yield disadvantageAnd that People's Bank of China efforts to prop up the yuan are half-hearted:The PBoC may continue to smooth volatility, but we do not expect it to draw a firm line in the sand when the tide keeps coming in.Also on the PBOC, the path is clear for rate cuts next Monday:The PBoC unexpectedly lowered the rate on its one-year loans, or medium-term lending facility (MLF), by 15 b... Read More
Posted: Aug 17 2023, 00:48
Author Name: forexlive
Views: 102576

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