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China’s yuan subdued despite strong exports, yield gap widens

From brecorder.com

China’s yuan was largely flat on Monday, with support from strong export data over the weekend countered by growing expectations of more aggressive US monetary tightening. The dollar held gains against its major trading partners as US job growth unexpectedly accelerated in July, raising market expectations for another 75-basis-point hike at the Federal Reserve’s Sept. 21 meeting. Dollar strength and Sino-US tensions over Taiwan after US House of Representatives Speaker Nancy Pelosi’s visit to the island last week are likely to continue weighing on market sentiment, traders said. Prior to market opening, the People’s ... (full story)

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  • Category: Fundamental Analysis