USD/CNY to largely stay beyond 7.2 through Q3 before falling back to around 7 in Q4 – Commerzbank
|The Yuan has weakened since mid-April. Economists at Commerzbank analyze CNY outlook.
Weaker for longer
We forecast USD/CNY to largely stay beyond 7.2 through Q3 before falling back to around the key 7 mark in Q4 and below 7 in 2024 due to the anticipated softening of the Dollar.
EUR/CNY will likely rise in the near term due to further tightening of ECB monetary policy for the time being.
Source: Commerzbank Research
See: USD/CNH could trade in a narrow 7.20-7.30 range for the remainder of July – Credit Suisse
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.