China Will ‘Try Very Hard’ to Slow Yuan’s Fall, UBS’ Wang Says
- Chinese currency pressured by US tariffs, strong dollar
- China seeks to support yuan while keeping exports competitive
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A weaker yuan against the dollar may only give China’s exports a modest boost and Beijing will push to moderate the currency’s decline, according to UBS Group AG.
The yuan is under pressure due to US tariff threats and a strong dollar on the back of upbeat economic data, Wang Tao, the bank’s chief China economist, told Bloomberg Television on Tuesday. A weaker yuan may drive China’s competitors to depreciate their own currencies, she said, moves that would offset attempts to make Chinese exports cheaper.