Analysts at Citi Group offer their view on the Chinese yuan following the conclusion of the US-China phase one trade deal and ahead of the US presidential election.
Key Quotes:
“Short USD/CNH trade citing the conclusion of phase 1 and phase 2 agreement is a long way off.
Risk from the US presidential election is under-priced, its time now to reduce risk trades a little.
Uncertainty about who will be Democratic nominee – the forthcoming Iowa Caucus “could become a risk-off event”.
Global economic growth is a brighter point, will pick up.”
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