Yuan Snaps Rising Streak After China Cuts Cost to Short Currency
Market Intelligence Analysis
AI-PoweredChina's central bank has cut the cost to short the yuan, which may slow its appreciation against the US dollar, and the move is expected to support companies in managing foreign-exchange risks.
Market impact analysis based on bearish sentiment with 80% confidence.
Article Context
The move will “support companies’ management of foreign-exchange risks,” the PBOC said in the statement. “This is one of the tools expected to be utilized to slow the appreciation of the yuan against the dollar,” said Fiona Lim, strategist at Maybank in Singapore.
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