Standard Chartered Bank: RMB Fluctuation Intensified But Still Weak

Recently, the yuan has weakened after the widening trading range, or because of the intention of policymakers to increase uncertainty in their prospects. The median price has risen over the past 5 days, but it is not clear whether the trend has reversed. In the longer term, Standard Chartered believes that the continued depreciation of the renminbi is not in line with the policy direction. Standard Chartered believes that the current position provides a good opportunity to add Renminbi bonds.