TD says 7 will be allowed to break for USD/CNY

Author: Eamonn Sheridan | Category: Central Banks

Plenty of chatter about on the yuan today reflected in items from all over the place:

TD on the yuan:
  • 7.00 level will be allowed to eventually fall if seen as fundamentally necessary
  • Considerations regarding the need to adjust against tariff impact as well as preserve FX reserves against much higher external debt levels should dominate China's priorities
  • remain bearish CNY, seeing the need for further macro adjustment, and the risk that additional U.S. actions drag on China's economy, during a drawn-out trade war
  • continue to see 7.20 achieved in the coming months (though the near-term defence of 7.00 may delay that)

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose