China’s state-owned bank Bocom International: Yuan is likely to drop below 7 within three months - SCMP
|Chinese state-owned lender Bank of Communications International’s Head of Research, Hong Hao, said that the USD/CNY is likely to rise above the level of seven within three months, and that the stock markets in mainland China and Hong Kong are gradually pricing in this scenario, as cited by the South China Morning Post (SCMP).
Hong noted: “The three-month tenure estimate is basically based on the positions we can see built by foreign-exchange traders for now. A weakened valuation of the yuan is decided by the recent tough trade environment China is facing.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.