Various market participants surveyed by China Securities Journal showed on Tuesday, the USD/CNY exchange rate may remain volatile in a range between 6.9 and 7 yuan in the future.
Further Findings:
The current valuation of RMB assets is generally low and therefore attractive to foreign investors.
Expect the Chinese yuan to appreciate slightly.
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“USD/CNH bears remain hesitant in spite of assurances from the White House that the interim trade deal with China is done. The scepticism is understandable, given Beijing’s reticence in acknowledging specifics laid out by U.S. trade negotiators”, as cited by Reuters.
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