Yuan Likely to Climb on Worries of US Slump
考研英语
时间: 2019-04-08 14:17:14
作者: 匿名
The yuan is likely to rise this week as the US dollar continues to weaken on worries of a possible US slump.
The yuan ended at 7.2485 on the China Foreign Exchange Trade system in Shanghai from 7.2620 a weak earlier.
Last week, Citigroup and Merrill Lynch reported huge losses in the fourth quarter of 2007 due to the subprime crisis.
Citigroup lost US$9.8 billion while Merrill Lynch suffered a US$9.83 billion loss in the fourth quarter.
The turmoil spread over into the US stock market, leading to concerns the US economy may fall into a recession.
A faster appreciation of the yuan is likely amid China's tight monetary policy to fight inflation.
The yuan ended at 7.2485 on the China Foreign Exchange Trade system in Shanghai from 7.2620 a weak earlier.
Last week, Citigroup and Merrill Lynch reported huge losses in the fourth quarter of 2007 due to the subprime crisis.
Citigroup lost US$9.8 billion while Merrill Lynch suffered a US$9.83 billion loss in the fourth quarter.
The turmoil spread over into the US stock market, leading to concerns the US economy may fall into a recession.
A faster appreciation of the yuan is likely amid China's tight monetary policy to fight inflation.
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