A couple of bank pieces in the previous few days on the USD/yuan 7 level:
- CA analyst says the People's Bank of China will defend 7 in USD/CNY
- Further pressure may be coming to the yuan
This quickie now via Capital Economics, the firm looking for USD/CNY to break above 7, citing:
- A further weakening for China's economy while the US economy continues to surge ahead
- Further heightening in trade tensions
- People's Bank of China to renew easing efforts