Last updated on October 18, 2023
After experiencing a significant surge in its value during the previous trading session, the Chinese yuan has stabilized on Tuesday and is currently trading at a steady pace. Traders anticipate that there will be limited fluctuations in the currency’s value leading up to the forthcoming golden week holiday.
The yuan’s recent rally has displayed its strength against other major currencies, reflecting positive investor sentiment and confidence in China’s economic recovery. However, as the golden week holiday approaches, traders predict that market activity will be subdued, resulting in minimal changes in the yuan’s performance. This period of stability can be attributed to the traditional lull in trading activities during this holiday, as market participants take time off to celebrate and travel.
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