FXStreet reports that economists at MUFG Bank expect the USD/CNY pair to move downward in 2021. 

“The renminbi has been boosted overnight by the announcement from the New York Stock Exchange that it has backtracked on plans to delist three Chinese state-run telecoms groups as it no longer intended to carry out the de-listings ‘in light of further consultation with relevant regulatory authorities’.” 

“We expect the renminbi to advance further against the US dollar in the year ahead. A reduction in US-China trade policy tensions/uncertainty would create a more supportive backdrop for the renminbi while it should continue to benefit from relatively higher yields on offer in China and the cyclical outperformance of China’s economy.”