SHANGHAI: China’s yuan edged up on Friday against a soft dollar, on track for its first weekly gain in two months that partly reflects Beijing’s success in slowing the currency’s slide in the face of tariff threats from Donald Trump.
Nevertheless the yuan is headed for its biggest monthly loss in nearly 1-1/2 years, and analysts say volatility will likely remain high with a Sino-US trade war looming under Trump’s presidency.
On Friday, the yuan was changing hands around 7.2333 at midday, 0.15% stronger than Thursday’s closing price, having rebounded 0.3% from a four-month low hit on Tuesday.
The dollar index fell 0.2% to a two-week low.
Also aiding the yuan, a Reuters poll showed on Friday that China’s home prices are expected to fall at a slower pace this year and next, and stabilise in 2026, potentially easing concerns over the health of the world’s second-largest economy.
Investors also expect fresh stimulus measures to be unveiled at the Central Economic Work Conference next month.
Comments
Comments are closed.