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OCBC Bank analyst: RMB appreciation of space remain

    Callback for the phenomenon of the RMB, OCBC Bank analyst Xie Dongming, recently said there is still much room for the appreciation of RMB.

    With the U.S. dollar against the yuan since July 16, booster cables after touching its lowest since the reform on the dollar rising against the yuan central parity is a continuous rise.battery clip Meanwhile, the attitude of governments and central banks have to prevent the economy from overheating during the first half to second half of the steady and rapid economic growth into the yuan against the dollar in this environment the trend appreciation of the sudden stop,tow rope making the market speculation that the central bank may devalue the yuan to support economic growth.

    In this regard, Xie Dongming, the yuan in the past month rally the callback is not suggesting that the RMB has been stopped,ratchet tie dowm if the observed trend of the dollar index, not difficult to find the dollar index reached in the July 15 lows since April of this year, and starting from the July 16 round of rapid rise. The dollar index started in July 16 rally and the RMB against the dollar in July 17 began to fall is not a coincidence, with the dollar's rebound in the international market to explain the decline in the RMB against the U.S. dollar, than the Chinese government began supporting economic growth to stop RMB appreciation is more convincing.

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