Why yuan-dollar tango keeps trade firms on tenterhooks By GUAN TAO | China Daily | Updated: 2021-04-12 10:02 [Cai Meng/China Daily] In March, the RMB exchange rate fell back to the era of 6.50 yuan per US dollar, wiping out all the pick-up year to date. With rising market discussion on the reasons for recent RMB exchange rate correction, many institutions lowered their expectation of RMB appreciation within the year. In fact, I have always been emphasizing that logic is more important than conclusion in foreign exchange analysis. What has happened by now does not deviate from the logic of exchange rate fluctuation I've argued for many times.