China’s yuan ‘trading like a safe haven currency’ as Ukraine crisis roils markets

//China’s yuan ‘trading like a safe haven currency’ as Ukraine crisis roils markets

China’s yuan ‘trading like a safe haven currency’ as Ukraine crisis roils markets

The yuan is standing out for its resilience as global markets reel from Russia’s attack on targets across Ukraine.While major stock markets tumbled, and currencies from the euro to the Korean won declined, the yuan is still hovering near a four-year high after Russian President Vladimir Putin ordered an operation to demilitarise Ukraine.“Yuan has been trading like a safe haven currency during the Ukraine crisis,” said Khoon Goh, head of Asia research at Australia & New Zealand Banking Group in…

Article by [author-name] (c) Business - South China Morning Post - Read full story here.

By | 2022-02-24T08:41:41+00:00 February 24th, 2022|Business|Comments Off on China’s yuan ‘trading like a safe haven currency’ as Ukraine crisis roils markets