The battered Chinese yuan (CNY) could regain some ground against the dollar and appreciate over the next year, but only if the Sino-US trade tensions ease, according to the latest Reuters poll.
The CNY is seen rising 2 percent to 6.70 per dollar in a year, according to the poll of more than 60 foreign exchange strategists taken between August 6 and August 8.
At press time, the USD/CNY pair is trading at 6.8207, having hit a 14-month high of 6.8926 on August 3. On a year-to-date basis, the Chinese currency is still reporting 5 percent depreciation.
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