Global attention will focus on the yuan exchange rate this week, as China’s currency appears possibly on track to depreciate below the psychologically-important level of 7 per US dollar. Photo: AP
China’s yuan in spotlight amid key economic data releases this week
- Market watching to see if PBOC defends key level of 7 yuan to the US dollar
- If PMI data on Wednesday is weak, market could test PBOC’s resolve
Topic |
Yuan
Global attention will focus on the yuan exchange rate this week, as China’s currency appears possibly on track to depreciate below the psychologically-important level of 7 per US dollar. Photo: AP