- Analytics
- News and Tools
- Market News
- USD/CNY to nosedive towards the 6.20 level by year-end – NBF
USD/CNY to nosedive towards the 6.20 level by year-end – NBF
FXStreet reports that economists at the National Bank of Canada still see a year-end USD/CNY of 6.20.
“The Chinese central bank has tried to curb CNY appreciation in recent weeks by raising reserve requirements for the foreign exchange deposits of Chinese commercial banks. In addition, some PBoC officials have tried to talk down the currency, claiming it is overvalued. Booming demand for Chinese exports is likely to be sustained over the coming months as US retailers seek to replenish depressed inventories. This demand, along with attractive real-interest-rate differentials, argues for further appreciation of the Chinese currency.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
