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- USD/CNY: Probable move to 6.5600 in early 2022 – UOB
USD/CNY: Probable move to 6.5600 in early 2022 – UOB
In view of. Strategists at the Quarterly Global Outlook from UOB Group’s Global Economics & Markets Research, USD/CNY could edge higher to the 6.5600 zone in Q1 2022.
Key Quotes
“Going forward, the CNY will face growing growth headwinds. Previous calls by the market for monetary tightening in the first half of the year have dissipated. Monetary policy is likely to be biased slightly looser to cushion slowing growth momentum.”
“As the growth and monetary policy divergence between US and China continues to close, we hold our view of a modestly higher USD/CNY in the coming quarters. Our updated point forecasts are 6.52 in 4Q21, 6.56 in 1Q22, 6.60 in 2Q22 and 6.64 in 3Q22.”
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