Free Trial

Scotiabank believe that "one-way.........>

CHINA YUAN
CHINA YUAN: Scotiabank believe that "one-way speculation on the yuan exchange
rate has dissipated as onshore USDCNY spot has been persistently trading around
the central bank's daily reference rate."
- Scotiabank see "further upside potential for dollar/yuan in the run-up to the
June FOMC meeting. Dollar/Yuan is expected to head for and rally through the
6.40 level down the road. Meanwhile, China will prevent the yuan from
depreciating sharply as Chinese Vice Premier Liu He who is also President Xi
Jinping's top economic adviser will visit Washington next week for follow-up
trade talks to avert a trade war. The yuan is anticipated to outperform the
CFETS basket amid ongoing external uncertainty."
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.