UBS Sees Reduced Depreciation Pressure on Yuan

by swisscham in BFI

A weaker U.S. dollar, less negative economic numbers and improved market sentiment in China would reduce depreciation pressure on yuan in the next few months compared with the beginning of the year, a UBS report noted. After depreciating 1.3% in January, the RMB stabilized in February before appreciating 1.6% against the U.S. dollar in March. Meanwhile, the RMB offshore forward premium against the U.S. dollar also showed much improved sentiment.

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