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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.
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Free AccessYuan To Strengthen Above CNY7 Against USD In 2024
The yuan will likely further strengthen against the U.S. dollar to break the 7 level next year as the Federal Reserve is expected to start rate cuts, financial news agency Cls.cn reported citing market insiders. Wang Tao, chief China economist at UBS, adjusted the yuan forecast for end-2023 to around 7.1 from the previous 7.3, and raised the forecast for 2024 to 7.0 from the previous 7.15. Wang noted that the yuan may depreciate again in Q1 2024 given the People’s Bank of China could further loosen monetary policy. The PBOC will likely not cut interest rates after spring when the Chinese economy likely stabilises, Wang added.
To read the full story
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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.