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Yuan Likely to Climb on Worries of US Slump

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发表于 2017-8-6 14:20:08 | 显示全部楼层 |阅读模式
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    The yuan is likely to rise this week as the US dollar continues to weaken on worries of a possible US slump.
    The yuan ended at 7.2485 on the China Foreign Exchange Trade system in Shanghai from 7.2620 a weak earlier.
    Last week, Citigroup and Merrill Lynch reported huge losses in the fourth quarter of 2007 due to the subprime crisis.
    Citigroup lost US$9.8 billion while Merrill Lynch suffered a US$9.83 billion loss in the fourth quarter.
    The turmoil spread over into the US stock market, leading to concerns the US economy may fall into a recession.
    A faster appreciation of the yuan is likely amid China's tight monetary policy to fight inflation.
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