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China’s $1 Trillion Trade Boom Won’t Stop Yuan Slide, Macquarie Says

“Despite the record high trade surplus, the yuan is under strong depreciation pressure against the US dollar,” said Hu. Given the dollar’s strength and weak business confidence, Macquarie’s currency strategists expect the yuan to slide to 7.15 against the greenback by the end of this year, he wrote in the report, which was published before the yuan surpassed that level on Monday. 

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