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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.”