USD/CNY to slip towards 6.70 by end-2023 – TDS USDCNY Banks China
“Clearly sentiment has turned for the CNY, but while we now expect further slight appreciation vs. USD to around 6.70 by end-2023 we also expect trade-weighted weakness in the CNY to resume.”
“We think the CNY will be undermined by a declining current account surplus as the services balance moves back into deficit due to a wave of Chinese tourists overseas.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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