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JP Morgan says the Chinese yuan will keep on falling

Analysts at JP Morgan remain bearish on the RMB:“The fundamental case for additional yuan weakness remains very much intact.” “We see the dollar-yuan uptrend as durable, but recent events are a reminder that authorities will periodically try to disrupt one way moves.”The 'recent events' JPM refer to centre on the People's Bank of China setting the reference rate for USD/CNY much lower than models expect. This was yesterday, for example:People's Bank of China sets USD/ CNY reference rate today at... Read More

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Morgan

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Chinese

Yuan

Will

Keep

Falling

Forex

Posted: Aug 22 2023, 00:47

Author Name: forexlive

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