The dollar and yuan’s unusual simultaneous rise
Caixin Global’s commentary attributes the pairing to record corporate dollar conversions, which it says have severed the yuan’s link to U.S. yields.
TLDR
Caixin Global’s commentary examines why the dollar and yuan are rising at the same time. It argues that record corporate dollar conversions have severed the yuan’s link to U.S. yields, giving Beijing room to cut domestic interest rates even as the dollar appreciates.
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