Free Trial

Goldman Sachs' Zach Pandl, Kamakshya.....>

CHINA YUAN
CHINA YUAN: Goldman Sachs' Zach Pandl, Kamakshya Trivedi and Caesar Maasry
believe that "the Chinese yuan will slide further against the U.S. dollar before
regaining strength." They look for USD/CNY to reach CNY6.90-7.10 in the next 3
to 6 months, with the weaker yuan set to worsen sentiment in China & accelerate
capital outflows. The note also suggests that "trade tension will more than
likely escalate before a deal nears."
- Further out, the analysts expect a reversal to CNY6.60 within a year as they
believe that it is likely that a trade deal will be struck.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.