Goldman Sachs says the US is likely to roll back some additional tariffs on China - recommends buying yuan
Goldman Sachs' Zach Pandl, co-head of global foreign-exchange and emerging-market strategy in New York, speaking in an interview on Bloomberg Television overnight:
- case to be long yuan is really about the prospect of a tariff rollback in the U.S."
- "If we do get confirmation of a rollback of some of the tariffs, we think that the yuan could have a relatively sharp but short-lived period of appreciation into the first quarter. it is one of our favorite FX trades"
More on US-China:
- U.S. may request more openness from China about its currency policy as part of a trade deal
- "That's not really what's driving the yuan at the moment, so we don't think it's a major issue for the trade talks."