A chunk by way of Reuters in short:
- China doesn’t seem prepared reduce charges, given unexpectedly sturdy Q1 development information
- China seems reluctant to chop charges forward of the Fed
- Yuan has been rising steadily since mid-March, its trade-weighted index has hit its highest since October 2022, its simply not rising towards a really sturdy USD
Reuters concludes:
- If Beijing can settle for the US greenback energy it might ease financial coverage to prioritise
financial help. - The yuan may even emerge stronger on the following
rally in Chinese language threat belongings.
CNY CFETS index (Reuters chart):
This text was written by Eamonn Sheridan at www.forexlive.com.
