RMB exchange rate stays stable as market waits for positive factors to break out of consolidation range
Although the Bank of Japan interest rate hike, the Federal Reserve interest rate cut is expected to be delayed and other major events continue to disturb the global financial markets, the RMB exchange rate has remained stable, in the low volatility of the stage of consolidation. since February, the RMB exchange rate against the dollar has always maintained the range of 7.17 to 7.20 shock, the maximum fluctuations of no more than 200 points during the month. Insiders said the market is waiting for positive factors to converge and push the yuan out of the consolidation range. The pull factors still depend on more positive signals from the dollar index, macroeconomic recovery and cross-border capital flows.
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