China’s Yuan to feel the heat of a trade spat with the US – Reuters News
China’s Yuan will report year-on-year losses in June 2019, according to a Reuters poll of foreign exchange strategists.
The currency dropped 3.3 percent against the greenback in June, courtesy of the heightened fears of a full-blown trade war between the US and China.
Strategists believe the trade tensions will likely keep the Chinese currency under pressure. At press time, USD/CNY is trading at 6.66 and is seen around the same level in a month from now. At year-end, the yuan will have strengthened to 6.57 and then go stronger to 6.50 in a year, the Reuters poll of over 60 strategists taken this week showed.
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