Chinese Yuan Rises on Confidence, CBIRC Warning of ‘Heavy Losses’ for Bears

May 27,2019 16:09   Source:Earnforex
The Chinese yuan is rising to kick off the trading week, buoyed by stronger confidence in the world’s second-largest economy and a strong warning from the nation’s top banking regulator for the currency bears. But the rally was capped by disappointing economic data and worsening trade relations with the US. Speaking at a Beijing finance forum on Monday, the head of the China Banking and Insurance Regulatory Commission (CBIRC) said that he does not anticipate a persistent and long-term […]

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