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Bank of Singapore warns of limits to RMB rally

Despite having outperformed all its Asian peers year-to-date and facing likely appreciation pressures given the possibility of relieved US-China trade tensions, the RMB’s lack of undervaluation and high real yield limits the likelihood of an extended currency rally, according to Bank of Singapore. The lender pointed out that China could agree to not competitively devalue the RMB to offset tariffs and gain…

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