UBS Global Wealth Management (UBS GWM) reviewed China’s surprise top-performing asset class this year: the yuan. Although USDCNY has risen from its March lows of 6.38, the yuan has still appreciated 2.2% against the dollar and even outperformed, in terms of total return, at 3.6%. UBS GWM attributed the movement of the yuan, in correlation to USD, to the preference…
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