According to a Reuters poll of strategists, the Chinese authorities are likely to continue weakening the Yuan amid ongoing US-China trade war and a slowdown in the domestic economy. Key Findings: “The latest Aug. 29-Sept. 4 Reuters poll of nearly 60 strategists showed the yuan is expected to trade around 7.19 to the dollar in six months, over 0.5% weaker than Wednesday’s 7.15, before readjusting to 7.16 in a year. That marks the third month in a row where analysts have lowered their yuan outlook. Nearly two-thirds of analysts who answered an additional question said China would fight the U.S. trade war by depreciating the yuan further. The most pessimistic 12-month view, 7.75 per dollar in the latest and previous surveys taken after the yuan breached the 7 per dollar rate, is the weakest since polling began more than a decade ago for the currency. That suggests a clear bias towards a further downgrade. About 70% of respondents who answered a separate question said China’s decision to change its interest rate system was not a step towards allowing the yuan to trade more freely.” 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 NZD Bearish: New Zealand’s Fonterra to freeze pay, scrap bonuses of 7,000 employees FX Street 4 years According to a Reuters poll of strategists, the Chinese authorities are likely to continue weakening the Yuan amid ongoing US-China trade war and a slowdown in the domestic economy. Key Findings: "The latest Aug. 29-Sept. 4 Reuters poll of nearly 60 strategists showed the yuan is expected to trade around 7.19 to the dollar in six months, over 0.5% weaker than Wednesday's 7.15, before readjusting to 7.16 in a year. That marks the third month in a row where analysts have lowered their yuan outlook. Nearly two-thirds of analysts who answered an additional question said China would fight the U.S.… 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.
