欧州の防衛を巡る新たなモメンタムは、　フランスにとってチャンスか

Tariffs weighing on investors’ sentiment

Hong Kong's pivotal role in RMB capital flows

China’s yuan has been weakened due to a number of factors including the trade war escalation although it has recovered somewhat from late January as the dollar weakened, and more cross-border portfolio flows have entered China’s equity market. While there has been concern over whether China will use the exchange rate to offset part of the tariffs and maintain export competitiveness, the recent improvement in sentiment and investment into equities has offset the depreciation pressure. In this note, we analyze the yuan's performance and how it interlaces with China's capital flows. More importan...