Goldman Sachs now ‘outright negative’ on China yuan over outflow risk

Goldman Sachs has shifted to an “outright negative” view on the yuan, blaming the change in sentiment on a “weak link” in the mainland’s currency management strategy.

The bank’s analysts said although Beijing had moved changed its focus to the yuan’s against a basket of currencies, Chinese consumers and businesses had not shifted their mindset away from the currency’s dollar exchange rate.

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