RMB rises 194 basis points against US dollar

category:Finance
 RMB rises 194 basis points against US dollar


The bank said it expects the dollar to continue to retreat gradually in the future. Major currencies, such as the euro and the Australian dollar, are expected to consolidate recent gains against the US dollar amid a sluggish recovery in the global economy. Asian currencies are expected to rise further against the US dollar, with the renminbi and South Korean won set to rise more consistently in the second half of this year with a more stable economic recovery. The main expected risk lies in the re outbreak of the second epidemic, which may easily destroy the relatively stable financial market and bring a new wave of volatility. The first is that the dollar will strengthen again.