The US-based rating agency, Standard and Poor’s (S&P), is out with its report on the Yuan outlook, in the face of rising trade policy risks.
Key Highlights:
Outlook for renminbi will depend on trade-tech tension.
Does not expect substantial depreciation of the yuan.
Timing of Yuan move beyond 7 is clearly not a coincidence.
Timing of Yuan move beyond 7 may have a political dimension.
China allowed more flexibility versus the dollar.
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