A 10 yuan banknote is displayed on top of US dollar bills in this illustration taken on February 14. Markets instinctively recognise that the yuan still faces major headwinds. Photo: Reuters
Opinion
Opinion
Macroscope
Soaring US dollar may be levelling off but a yuan rally isn’t on the cards
- The fact markets are less enamoured with the US currency than in recent months won’t be enough to send the yuan soaring
- There must also be reasons to buy China’s currency, and those are still lacking amid continuing lockdown measures and sluggish growth
A 10 yuan banknote is displayed on top of US dollar bills in this illustration taken on February 14. Markets instinctively recognise that the yuan still faces major headwinds. Photo: Reuters
