The Federal Reserve’s shift to pause mode is helping China’s currency defy a deepening slowdown across the world’s No. 2 economy.
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Even after data on Thursday showed a sharp downturn in China’s factory-gate price gains, the yuan hit its strongest against the dollar since July.
Strong Yuan is good for exporters such as the fruit company.
“The yuan can hold up fine” until the Fed hikes again, trade tensions resume and China “goes all-in on stimulus,” said Michael Every, head of Asia financial markets research at Rabobank in Hong Kong. “It’s a ‘when’ and not an ‘if’ for when it reverses direction again and we test new lows.”
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