Free Trial

JPMorgan revised their USD/CNY...........>

CHINA YUAN: JPMorgan revised their USD/CNY forecasts higher on Tuesday:
- Q32019: CNY7.20 vs. Prev. CNY7.05
- Q42019: CNY7.35 vs. Prev. CNY7.10
- Q12020: CNY7.35 vs. Prev. CNY7.15
- Q22020: CNY7.40 vs. Prev. CNY7.15
- JPM suggest that USD/CNY "breaking 7 itself is not a regime-shift in the
PBOC's exchange rate policy, but it reflects China's cost/benefit analysis under
the new tariff war scenario. Importantly though, the path to higher USD/CNY
levels is unlikely to be a linear one, which reflects potential action from both
China and the US. We are mindful of this in the context of advocating fresh long
positions in USD/CNH, where better entry levels may present themselves to such
trades in the coming days."
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

To read the full story



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.