China's yuan to trim losses on hopes trade risks will subside - Reuters Poll

Omkar Godbole FXStreet Contributor

The Chinese yuan is expected to trim some of its recent losses against the greenback over the coming year on hopes that trade risks will subside and a deep sell-off in emerging markets will subside, a Reuters poll found.

Key points (Source: Reuters)

The CNY was expected to gain around 1.7 percent to 6.80 per dollar in a year's time from around 6.92 currently, according to the poll of over 50 foreign exchange strategists.

Sixteen strategists see the yuan weakening to 7 to the dollar or higher at some point over the 12-month period, the highest number of respondents in the Reuters poll predicting that since August 2017.

Nearly half - 18 of 37 common contributors in the latest survey and a September poll - revised forecasts to a weaker yuan, citing expectations for more policy easing from China's central bank in coming months.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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