- Yuan’s choppiness will likely continue in the near term – Commerzbank
Market news
31 July 2023
Yuan’s choppiness will likely continue in the near term – Commerzbank
The Yuan experienced a few choppy weeks in July. Economists at Commerzbank analyze CNY outlook.
Policymakers need to act fast
The Yuan experienced a few choppy weeks in July as the PBoC set the daily fixings stronger than market expectations in most days to counter depreciation pressure. This will likely continue to be the case in the near term.
While the recent stimulus announcements have bought some time for policymakers, they need to act fast before investors disappoint over the absence of tangible policy response.
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