Market news
09.12.2021, 03:30

USD/CNY: Two-way volatility in the yuan unchanged despite fast appreciation – China Press

Two-way volatility in the Chinese yuan has not changed despite the currency's rise to three-year highs amid shifts in global monetary policy stances, the state-owned China Securities Journal carried a front-page story on Thursday.

Key takeaways

“Robust exports, foreign capital inflows and prudent monetary policy have provided support a stable yuan.”

"Towards the year-end, heavy FX settlement by companies may contribute to a fast yuan rally to a certain extent, but the impact of seasonal and transactional factors may not be sustainable.”

Market reaction

USD/CNY was last seen trading at 6.3446, modestly flat on the day. Investors digest the hot Chinese inflation data ahead of the US CPI report due on Friday.

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