A Reuters poll of analysts, cites a slowing economic growth outlook
- softening domestic and export demand
- Likely to prompt further PBOC easy monetary policy this year
The number of analysts predicting the yuan will weaken to 7 per dollar or beyond at any time during the polling horizon increased in the latest poll from previous months and was the highest since a July 2017 survey.
The move beyond 7 will come despite a widely-held view the Chinese authorities will step in to defend that key level say analysts
January 2-8 poll
- more than 70 foreign exchange strategists
- yuan to 6.95 per dollar by end-June
- forecast to end the year at 6.89 per dollar
