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PBOC Could Mull Letting Yuan Go Without Huge Crash, Survey Shows
China could let its tight grip on the yuan go without triggering a sustained market disruption, according to the majority of respondents in a Bloomberg survey of analysts and traders, though they see only a limited chance of such a move. A Bloomberg poll of 24 domestic and foreign financial institutions suggests they have faith in the People’s Bank of China’s ability to control the exchange rate, despite mounting pressure on the yuan that has pushed it to the weak edge of its fixed trading band against the dollar. Their average year-end forecast for the currency was little changed from current levels. Respondents ... (full story)
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- Posted: Jul 8, 2024 7:41pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,113
