Further Rally Seen for China's Yuan as It Breaks Key Level
- Yuan gains past 6.8 per dollar for the first time since August
- Potential trade deal, weaker greenback may support currency
Photographer: Jerome Favre/Bloomberg
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China’s currency is at a five-month high, and technical indicators suggest more gains are coming.
Buying momentum is the strongest in almost a year and bearish bets had fallen to 12-month lows in the options market. A rising currency makes China’s financial markets more attractive to overseas investors -- foreign flows into the country’s debt surged in December -- which may further buttress gains.