The Analysts surveyed by Reuters believe that the Chinese yuan will extend the decline and renewed decade lows, as China will continue to devalue its currency amid lingering US-China trade war risks.
Key Findings:
“The Sept. 24-Oct. 3 poll of over 60 foreign exchange strategists showed the yuan will be about 1% weaker at a more than decade-low of 7.20 against the dollar by end-2019.
The currency is forecast to hover around the same rate by March 2020 and then appreciate to 7.16 per dollar by this time next year.
Over 60% of the respondents were anticipating further deterioration or a continuation of the status quo and the rest forecast an improvement.
Forecasts for where the yuan will trade in a year were divided too, with 31 of 60 respondents expecting it to weaken further and 29 respondents seeing the yuan gaining from here.”
Share
