THE yuan’s recent run sets up a year ahead where momentum, policy signals and capital flows decide whether gains stretch further into 2026. Markets look forward with a sense that the next phase hinges less on valuation arguments and more on how fast appreciation is allowed to travel.
Maybank Investment Banking Group Research (Maybank IBG) notes that betting against the US dollar via the offshore yuan has become a popular trade as views build that the Chinese currency is cheap and the greenback lacks clear direction.
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