Late Friday Goldman Sachs wrote that.....>

CHINA YUAN: Late Friday Goldman Sachs wrote that "developments in trade talks

between the US and China have been trending somewhat more constructively. In

particular, comments following the recent meeting between US and Chinese trade

representatives were particularly encouraging. While talks can still falter and

a deal that rolls back existing tariffs and removes trade uncertainty feels like

a high bar, the risk of another escalation in tariffs looks to have declined

(along with US stock prices). Consequently, an extended pause now feels like the

most likely outcome and reflecting this, we are moving our Renminbi forecasts

stronger. Taking into account a weaker USD and a possible pickup in Chinese

activity, we see USD/CNY at 6.80, 6.80 and 6.70 in 3, 6 and 12 months (vs 6.95,

7.10 and 6.90 previously)."