Key facts
- Allianz Global Investors has reduced its bullish yuan position.
- The firm has adopted a neutral stance on the Chinese currency.
- This decision follows a period of profit-taking.
- The yuan has been the top-performing currency in Asia this year.
Allianz Global Investors has scaled back its bullish bets on the Chinese yuan, moving to a neutral stance after realizing profits. The Chinese currency has emerged as the strongest performer in Asia this year, driven by its recent rally.