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The beginning of 2019 was marked by the growth of the Chinese currency. To date, the yuan has strengthened against all world currencies, analysts say.
On Thursday, January 10, experts recorded the strengthening of the Chinese currency in relation to the US to the maximum since July 2018. The reason for this was the information about the positive trade negotiations between the US and China.
Experts do not exclude that the official representatives of the Middle Kingdom on trade issues may visit Washington in January of this year. Recall that at the end of last year, the presidents of both countries agreed on a so-called truce of truce, during which a mutually beneficial trade deal could be concluded.
According to the agency Bloomberg, for the week, the strengthening of the yuan amounted to almost 1.5%. The process took place against the backdrop of the actions of the People's Bank of China (NBK), which poured liquidity into the financial system. Experts believe that the similar dynamics of the Chinese currency can persist for quite a long time if the market is resistant to higher Fed rates and possible negative reports about US-China trade negotiations.
Some experts explain the strong dynamics of the yuan by a possible attempt by the Chinese regulator to return the national currency rate to gold at the usual level. Experts believe that at the end of the past year, the monetary authorities of the PRC slightly loosened control over the situation, and now they are trying to catch up.
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