USD/CNY to advance nicely towards 6.70 in the next months – Danske Bank

Market news

20 August 2021

USD/CNY to advance nicely towards 6.70 in the next months – Danske Bank

FXStreet reports that economists at Danske Bank discuss the USD/CNY outlook.

“We continue to look for USD/CNY to move gradually higher over the next 12 months and have not changed our profile towards the 12M forecast at 6.70.”

“With the overall USD strengthening and ongoing policy divergence (PBoC easing, the Fed tightening) downside pressure remains on CNY vs. USD.”

“We still look for EUR/CNY to be around 7.70 on 12M, slightly higher than the current level of 7.63.”

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