New formula seen helping yuan to rise or stay stable

Economic resilience, Fed hike expectation, liquidity emerge as key factors that could move the currency

Encouraged by the resilient economy and the new yuan-dollar pricing formula, the Chinese currency might continue to rise, or remain stable, against the US dollar in the short-to medium-term, market analysts said.

In just five trading days before and after the May 28-30 Dragon Boat Festival holiday, the yuan unexpectedly rose more than 1 percent against the dollar in the offshore as well as onshore currency markets.