NAB Morning Call China gets Yuan Up on the Dollar
May 25, 2021
14:18
Wednesday 26th May 2021Okay, we know The US dollar has fallen again, with rises in the Euro, and a shift up in the Yuan, but will it stick? NAB’s Ray Attrill says there have been conflicting reports from China as to whether the country would benefit from a stronger currency, or not, but the belief is it will continue to rise which could add more strength to the Aussie dollar over time. In the US house sales were well down, but it seems to be a factor of supply shortages mixed with rising construction costs weakening demand. It’s being seen as another temporary inflation measure, with further falls ion bond yields overnight suggesting the transitory inflation story is even more widely accepted. Today the RBNZ policy statement – can they remain so dovish in light of the local data?
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