Depreciation in yuan foreseen on China cut- ANZ

FXStreet (Guatemala) - Analysts at ANZ explained that interest rate cuts in China have tended to lead to yuan depreciation.

Key Quotes:

"Despite an easing in capital outflows in October, there is still genuine onshore demand for dollars. The latest rate cut may see some pick-up in outflows."

"The failure of the yuan to gain from the ECB inspired risk rally is also another indication that near-term depreciation pressure remains."