By Ye Xie, Bloomberg Markets Live reporter and strategist
The People’s Bank of China is showing signs of pushing back against the yuan’s appreciation versus the dollar. As a result, the yuan is a laggard among Asian currencies amid the broader weakening dollar trend. It’s a small wonder that Goldman Sachs strategists found that US investors’ interest in the yuan has dissipated.
The Chinese central bank has fixed the yuan slightly weaker than expected in recent days after consistently supporting the currency for most of the year. For now at least, Beijing isn’t showing any signs of letting the yuan appreciate even more.
