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Offshore Yuan hits new low for 2023 amid signs of slowing economic recovery in China

The offshore yuan (CNH) has hit a new low for 2023, with the USDCNH reaching a high of 6.9981, surpassing the previous high of 6.9951 from March 8. This movement was partly influenced by overnight economic data from China, which painted a concerning picture of a slowing economic recovery.Key indicators fell short of expectations. Fixed Asset Investment, expected to increase by 5.7% year-to-date/year-on-year, only grew by 4.7%, down from the previous 5.1%. Industrial Production year-on-year was 5... Read More

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Content Topics

Offshore

Yuan

Hits

2023

Amid

Signs

Slowing

Economic

Recovery

Forex

Posted: May 16 2023, 17:30

Author Name: forexlive

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