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Selling China: US Dollar-Yuan Rate To Break 2023-Best At 7.28 Say ING
The US Dollar to Chinese Yuan (USD/CNH) exchange rate is edging towards its annual peak, a level close to 7.28. Foreign exchange strategists at ING suggest that if unexpected economic interventions don't materialise soon, the currency pair might not only breach this high but also create repercussions in other financial markets. In case you are unaware, the Renminbi has two distinct forms, which also means there are two versions of the Chinese Yuan: CNY and CNH. While CNY represents the Yuan used within China's domestic market, CNH refers to the Yuan traded outside China's borders. "USD/CNH is close to the highs of ... (full story)