Trvalý odkaz Pridané používateľom Anonymný (bez overenia) dňa So, 12/14/2024 - 20:42
SHANGHAI, Dec 6 (Reuters) - The yuan was little changed on Friday against the <br>
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dollar, but is headed for its tenth straight weekly loss amid concerns that new tariff threatened by President-elect Donald Trump will heighten strains on the struggling Chinese economy.<br>
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Analysts expect the dollar to remain firm as Trump's policies are expected to drive up U.S.<br>
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inflation, but they believe Beijing will prevent the yuan from falling too much.<br>
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"We anticipate some depreciation pressure in an expected strong dollar environment," Lynn Song, <br>
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Greater China chief economist at ING, said in a note.<br>
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However, "we don't expect an intentional large-scale depreciation and think the yuan will remain a low-volatility currency vis-à-vis most other Asian currencies." The yuan was changing hands at <br>
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7.2549 per dollar around midday, little moved from the previous close.<br>
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Although the currency has rebounded from a one-year low of 7.2996 hit on Tuesday, <br>
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it is poised to register its longest weekly losing streak since 2018.<br>
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The dollar index fell to one-week low overnight and "the USD's consolidation should unwind the upside pressure building" <br>
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in the yuan, aided by ongoing attempts by China's central <br>
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bank to restrain its decline, said Alvin Tan, strategist <br>
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at RBC Capital Markets.<br>
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Recent data has painted a mixed picture of China's economic recovery, <br>
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with manufacturing activities improving, but property sales in many Chinese cities remaining weak.<br>
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China's "economic landscape is unarguably dull, and the absence of excitement is perhaps the most salient feature," <br>
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said John Browning, managing director of BANDS Financial.<br>
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He doesn't expect huge stimulus to be announced during next week's Central <br>
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Economic Work Conference, as "Beijing's largesse will be reserved until after Trump is restored to the White House and the trade war formally begins." <br>
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Top policymakers will gather at the conference to agree on major economic goals for next year.<br>
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But the target for 2025 growth, one of the most closely-watched indicators globally for clues of Beijing's near-term policy intentions, likely will <br>
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not be officially announced until an annual parliament meeting in March.<br>
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During Trump's first term as president, the yuan weakened about 5% against the <br>
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dollar after the initial round of U.S.<br>
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tariffs on Chinese goods in 2018, and fell another 1.5% a year later when trade tensions escalated.<br>
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Growth worries and expectations of further monetary easing <br>
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by Beijing pushed China's 10-year treasury yields below 2% to <br>
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record lows this week, worsening the yield disadvantage against the U.S., and exerting downward pressure on the yuan. ING's Song expects the onshore yuan to move within a band <br>
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between 7.00-7.40 per dollar, but could fall further to 7.50 "if tariffs come in earlier or more aggressive than our forecasts." LEVELS AT <br>
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03:47 GMT GMT INSTRUME CURRENT UP/DOWN( % CHANGE DAY'S <br>
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DAY'S LOW NT vs USD -) VS.<br>
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YR-TO-DATE HIGH PREVIOUS CLOSE % Spot 7.255 0.09 -2.11 7.2518 7.2675 yuan <<br>
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CNY=CFX S Offshore 7.2615 0.03 -1.87 7.2574 7.2733 yuan spot (Reporting by Shanghai newsroom;<br>
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Editing by Kim Coghill)<br>
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SHANGHAI, Dec 6 (Reuters) -