GLOBAL INVESTMENT BANKS SEE YUAN RECOVERY IN SECOND HALF OF 2024
Global investment banks see the yuan facing continued downside pressure in the first half of 2024 before turning around over the following six months on views that the U.S. Federal Reserve will begin to cut interest rates by then, forecasts show. With China's economic recovery sputtering and the U.S. dollar surging until recently, the yuan has had a volatile year, having weakened 6.14% to the dollar at one point before giving back much of the losses.
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