USD/CNY to largely stay beyond 7.2 through Q3 before falling back to around 7 in Q4 – Commerzbank

Market news

13 July 2023

USD/CNY to largely stay beyond 7.2 through Q3 before falling back to around 7 in Q4 – Commerzbank

The Yuan has weakened since mid-April. Economists at Commerzbank analyze CNY outlook.

Weaker for longer

We forecast USD/CNY to largely stay beyond 7.2 through Q3 before falling back to around the key 7 mark in Q4 and below 7 in 2024 due to the anticipated softening of the Dollar.

EUR/CNY will likely rise in the near term due to further tightening of ECB monetary policy for the time being.

Source: Commerzbank Research

See: USD/CNH could trade in a narrow 7.20-7.30 range for the remainder of July – Credit Suisse

UK’s Hunt: High inflation remains a drag anchor on economic growth

EUR/JPY Price Analysis: Sees some consolidation around 154.40-50

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