Market News
Analysis-China ramps up global yuan push, seizing on retreating dollar - REUTERS
SHANGHAI/SINGAPORE (Reuters) -As Chinese President Xi Jinping toured Southeast Asia this month to forge closer ties against higher U.S. tariffs, the People's Bank of China was seizing a moment of confusion and disruption in global trade to promote greater usage of the yuan.
It won't de-throne the dollar, but as cross-border yuan payments surged to a record in March, analysts say there is renewed appetite for a global yuan as aggressive tariffs shake faith in the U.S. currency and other U.S. assets.
