The strength of the currency has become less a by-product of dollar weakness and more of a China-specific story. Renewed interest in China-specific growth themes, from AI and advanced manufacturing to technology exports, has helped shift the yuan story beyond dollar weakness. The yuan's correlation with the dollar has weakened. The currency is increasingly responding to investor perceptions of China itself, while a shift towards higher-value technology-related exports helps explain why policymakers have tolerated appreciation. You may also view the report online and sign up for all our latest market insights alerts: https://lnkd.in/eXfCwTJg Daria Efanova Viktoria Kuszak...
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The recent appreciation in CNH is not just a temporary dollar story.
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