The Chinese currency suffers a wave of depreciation against the background of the declining dollar. The two currencies have a very strong correlation, but there has been a clear distinction over the past two weeks, with the yuan falling sharply or rising sharply, even with a slight change in the value of the US dollar. Last week, the US dollar had fallen, and the yuan was on the rise. What has changed is that the Chinese authorities are concerned about the excessive power of the yuan that could harm the country's exports.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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