Reuters poll - analysts expect China's yuan to drop against USD this year

Author: Eamonn Sheridan | Category: News

Reuters survey on a poll of over 60 foreign exchange strategists, expectations for Asian currencies in 2018

  • The yuan is forecast to fall 1.7% against the USD by end-2018

More detail via Reuters:

  • China's yuan is forecast to depreciate slightly to 6.60 per dollar in six months and to 6.60 by end-2018
  • "During the recent phase of U.S. dollar weakness, the government has allowed a strong appreciation against the dollar, while the CNY has moved more or less sideways against the currency basket since April," said Ulrich Leuchtmann, research head at Commerzbank
  • "The volatility in USD/CNY is ... likely to remain higher in the future. The government is likely to react more sensitively to a CNY devaluation than to an appreciation, in order to prevent a capital flight from flaring up again after it was only stopped by extensive controls on capital movements in 2015 and 2016," Leuchtmann said

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