(Bloomberg) -- China could let its tight grip on the yuan go without triggering a sustained market disruption, according to the majority of respondents in a ...
-- China could let its tight grip on the yuan go without triggering a sustained market disruption, according to the majority of respondents in a Bloomberg survey of analysts and traders, though they see only a limited chance of such a move.Morgan Stanley’s Wilson Says a 10% Stock Market Correction Is ‘Highly Likely’Biden’s Biggest Donors Left Powerless to Sway Him to End Bid
Beijing has been setting stronger-than-expected daily reference rates for the managed currency as delayed US rate cut bets and the prospect of more monetary easing in China favored the dollar. At times, even state-run banks have sold US currency to stem the pressure on the yuan, which has weakened more than 2% this year to its lowest since November.
The re-election of Donald Trump as US president and Fed policy pose the biggest risks to the yuan, according to the survey. Still, even in the worst-case scenario of high tariffs being imposed on China, only three participants expect authorities to respond with a yuan depreciation. For Bloomberg’s survey respondents, the average year-end forecast for the yuan was 7.26 per dollar. It traded around the 7.27 per dollar level on Monday.An entire Florida homeowners association board quits after $60K special assessment dispute — what happenedThis well-priced basket of Canadian stocks is perfect for a long-term TFSA investor. The post TFSA: 4 Canadian Stocks to Buy and Hold Forever appeared first on The Motley Fool Canada.
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