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China’s yuan leaps to 7-month high, led by stronger yen, unwinding of global carry trade

www.scmp.com China’s yuan leaps to 7-month high as yen gains, carry trade unwinds

The sudden uptick in funding currencies, particularly yen and yuan, dented carry trades, after weak US labour data late last week stoked recession worries and expectations of deeper rate cuts by the Federal Reserve.

China’s yuan leaps to 7-month high as yen gains, carry trade unwinds
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