- USD/CNY seen at 7.25 by year-end as Yuan starts to recover – ANZ
Market news
29 tháng 9 2023
USD/CNY seen at 7.25 by year-end as Yuan starts to recover – ANZ
CNY recently weakened to levels last seen in December 2007. Economists at ANZ Bank analyze Yuan’s outlook.
CNY to recover later in the year
We see CNY weakness as largely cyclical and expect the currency to recover later in the year once we get clearer signs that China’s growth is starting to recover. A more meaningful rebound, however, will require US bond yields to decline, which is still some way off given the resilience of the US economy.
We are only looking for a modest recovery in CNY to 7.25 by year-end.
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