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The Chinese yuan exhibited minimal movement on Monday, despite a stronger-than-expected midpoint fix by the People’s Bank.
Investor sentiment toward Chinese markets remains cautious, awaiting further signals regarding the country’s economic health. Purchasing Managers Index (PMI) data for February is scheduled for release later this week, providing additional insights into China’s economic performance.
Persisting concerns over a decelerating economic recovery have played a pivotal role in keeping the yuan within reach of a three-month low. Market participants are closely monitoring upcoming economic indicators for potential implications on the yuan’s trajectory.
