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    Chinese Yuan Rally after Crackdown on Vicious Selling

    Julius AlagbeBy No Comments1 Min Read
    Chinese Yuan Rally after Crackdown on Vicious Selling

    Chinese Yuan Rally after Crackdown on Vicious Selling

    The yuan, Chinese currency, rose to around 7.21 per US dollar, rebounding slightly from three-week lows as the prospect of more forceful and concrete policy measures to support Chinese assets lifted sentiment.

    Over the weekend, China’s securities regulator vowed to prevent abnormal market fluctuations and crack down on “vicious” short selling, later on adding that it will take forceful measures to prevent risks of margin calls.

    A major Chinese sovereign fund also said it would further increase investments in exchange trade funds ( ETFs) to safeguard stable capital market operations.

    On the data front, a private survey showed that China’s January services activity remained expansionary for the 13th consecutive month.

    Meanwhile, the yuan remained under pressure from expectations that the country will ease policy further to support its struggling economy.

    Externally, strong US economic data and hawkish signals from the Federal Reserve dampened rate cut expectations in the US. #Chinese Yuan Rally after Crackdown on Vicious Selling#

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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