FXStreet reports that economists at CIBC Capital Markets discuss USD/CNY prospects in 2021.

“Recent PBoC liquidity management, and ongoing strong inward portfolio and FDI flows that are contributing to currency gains, reinforce our positive view.”

“We raise the liquidity picture as the management of it to-date has been as we might expect. Though any anxiety that policy tightening may continue would be a headwind to our bullish view.” 

“The yuan has been stable to strong since mid-2020 and we forecast further gains this year and next. To any degree that the Year of the Ox encourages consumers and investors, we see markets taking it in stride and maintaining CNH gains.”