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Nomura's opinion about the yuan exchange rate
According to the analysts of the Japanese bank Nomura, the RMB rate will continue its decline. Experts said that despite attempts by the authorities in Beijing to normalize the situation, they will recommend to increase long positions for USD/CNY.
"A number of factors continue to exert pressure on the yuan: firstly, it is a growing trade dispute with the Trump administration, and secondly, the continuing slowdown in the economy. Thirdly, the soft policy of the People's Bank of China.
At the same time, the Fed continues to tighten the monetary policy and will continue to do this at least until the middle of next year.Therefore, we are skeptical about the rate of the renminbi against the US dollar, "Nomura said.
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