Will the renminbi resume its sharp ascent?
The renminbi will be closely watched by traders after the Chinese government took steps last week to slow a sharp rally.
The measures, announced by the People’s Bank of China, will force lenders to hold more foreign currency — a method of tempering the currency not deployed since the financial crisis.
The renminbi has gained 11 per cent against the dollar over the past year, notwithstanding a wobble last week. The rally has come against a backdrop of China’s rapid recovery from the pandemic. Investors last year rushed to invest in Chinese stocks and bonds, helping to further support the currency.
您已阅读12%（644字），剩余88%（4610字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。