Yuan to consolidate around current levels before the Chinese New Year - RTRS

Reuters reports comments from a trader at a big Chinese bank on the Yuan outlook ahead of the Chinese New Year this month-end.

Key Quotes:

"The strength of the onshore yuan today is mainly due to the weakness of global dollar index, and has also been affected by the movement in offshore yuan market"

"Though the yuan still faces depreciation pressure, it will likely consolidate around current levels before the Chinese New Year later this month"