Analysts at TD Securities explained that they have reached our end of year target for USDCNY early as Chinese policymakers have allowed for a more rapid pace of adjustment to fundamental factors than we had expected. Key Quotes: “We thus revise upwards our view for USDCNY to reach 7.10 by year-end, before topping out near 7.20 at the end of Q1’19.” “This is based on our view that domestic Chinese policy constraints on the monetary and regulatory front leave the CNY REER as the operative shock absorber and main adjustment variable for monetary conditions to buffer the economy.” “We see the potential for another 3%-4% CNY REER depreciation to bring monetary conditions to more neutral relative levels.” “This however remains a key fundamentally-driven adjustment to bring CNY more in line with other Asian REER developments over the past year, and should not be interpreted as tool used to “punish” in the ongoing U.S.-China trade dispute.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NEO Technical Analysis: NEO/USD saved from further blushes as key support comes to the resuce FX Street 5 years Analysts at TD Securities explained that they have reached our end of year target for USDCNY early as Chinese policymakers have allowed for a more rapid pace of adjustment to fundamental factors than we had expected. Key Quotes: "We thus revise upwards our view for USDCNY to reach 7.10 by year-end, before topping out near 7.20 at the end of Q1'19." "This is based on our view that domestic Chinese policy constraints on the monetary and regulatory front leave the CNY REER as the operative shock absorber and main adjustment variable for monetary conditions to buffer the economy." "We see… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
