Yuan erases year’s gains against dollar while PBOC steps aside
(April 8): China’s yuan is hurting after months of standing tall against the dollar.
In March, the currency gave up all its 2021 gains and then some. There are signs a short-term retreat may be starting as the drivers that lifted the yuan last year -- a quicker economic rebound from the pandemic and investors seeking yields -- get eroded, dimming the currency’s appeal.……
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