J.P. Morgan: Sell the US dollar on rallies; hedging and settlement demand resonate; RMB bullish in the medium term
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The RMB exchange rate continues to show a strong trend. Although there has been some correction in the past two trading days, the extent has been limited, and it remains at a high level overall. On April 20, the onshore RMB/USD rate was 6.8198; on April 14, it