Yuan Holds Near 3-1/2-Year High Against Dollar as US Rate Bets Ease
The yuan hovered near a 3-1/2-year high against the dollar on Monday, supported by reduced expectations of an October US rate hike. Trade tensions and China's widening yield gap with the US could cloud the outlook.
China’s yuan hovered near a 3-1/2-year high against the dollar on Monday, supported by easing expectations of an October US rate hike. Lingering trade tensions could cloud the outlook. China’s widening yield gap with the US is also tempering the yuan’s appreciation, while jitters over Euro…