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DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
The yuan's role in global payments has reached a record high, with its share increasing to 4.74% in July from 4.61% in June, maintaining its position as the fourth most used currency in global transactions. This growth is part of a broader effort to internationalize the yuan and reduce the dominance of the US dollar. Additionally, yuan-funded emerging market carry trades have outperformed those funded by the yen this quarter.
Yuan-Funded EM Carry Trades Beat Yen Ones This Quarter 🤔🤨 $USDJPY $USDCNH https://t.co/fZ11yYOmcl
(China Daily) More internationalized yuan a growing reality https://t.co/YE8CguNwEP https://t.co/CFa2fKh80n
"The #yuan’s share in global payments hit a record high in July...It kept its 4th-place spot, w/its share of global transactions rising to 4.74% from 4.61% in June" Yes. "An effort to fend off the hegemony of the USD" Um. https://t.co/Ef0S6d5AWZ
