City Index: renminbi strength to continue
As long as capital continues to flow into China’s stock market, its currency will remain strong
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The renminbi is set to continue its bout of strength for the foreseeable future as long as capital continues to flow into the stock markets of emerging markets (EM), particularly China, says Kelvin Wong, chief technical strategist for Asia at City Index.
He says valuations in China, which are cheaper than those found in the US and other developed stock markets, have prompted international investors to divert capital towards the country, propping up the renminbi
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