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- USD/CNY: More hawkish Fed the trigger for a turn higher – Danske Bank
USD/CNY: More hawkish Fed the trigger for a turn higher – Danske Bank
FXStreet reports that economists at Danske Bank discuss USD/CNY prospects.
“The shift in Fed rhetoric in our view marks the turning point for the USD and we see the turnaround in USD/CNY materializing over the next 6-12 months. We have lifted the 1M and 3M forecast slightly to 6.45 (from 6.40) and 6.50 (from 6.45) but still see the cross at 6.60 and 6.70 on 6M and 12M, respectively. We look for EUR/CNY to stay around 7.70 on 12M but with some downside risk.”
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