- Analytics
- News and Tools
- Market News
- USD/CNY to reverse course and head lower toward year-end forecast of 6.70 – MUFG
USD/CNY to reverse course and head lower toward year-end forecast of 6.70 – MUFG
USD/CNY is back closer to the highs from last year when it briefly traded above the 7.20 level last autumn. Economists at MUFG Bank discuss the pair’s outlook.
PBoC is now being more proactive to support growth
Our forecast for USD/CNY to reverse course and head lower to our year-end forecast of 6.70 is based on our view for a broad-based sell-off for the US dollar in response to building expectations for the Fed to cut rates, and our outlook for growth in China to strengthen during the second half of this year.
We are encouraged that the PBoC is now being more proactive to support growth and expect more stimulus both monetary and fiscal to be provided in the coming months.
© 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
