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Another look at the renminbi, the yen & FX intervention

While policymakers’ efforts to prop up the renminbi and the yen alone are not enough to generate a lasting turnaround, they will probably do enough to buy time until US interest rate expectations and Treasury yields fall back and the dollar depreciates of its own accord.

In view of the wider interest, we are sending this FX Markets Update to clients of the China and Japan Economics services. 

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