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serving the Public interest of Transparency in Debt Capital Markets
The Collaborative Market Data Network
Serving Transparency in Capital Markets
The Collaborative
Market Data Network

RUNNIN' RENMINBI

Post Date: 02 June 2021

The Chinese renminbi has consistently strengthened against the U.S. dollar over the past year on the back of economic outperformance. Last week, the renminbi crossed below CNY/CNH6.40, a level not seen since 2018. The speed and size of the renminbi's appreciation has been impressive; however, yield dynamics between the U.S. and China suggest further strength in the short-term could be limited. In addition, PBoC authorities have recently displayed modest concern over the strength of the currency, and it is possible the central bank takes a more active role to disrupt the path of the renminbi.

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