USD/CNY has continued to trend lower and was last seen trading below the 6.5500 level. Economists at Danske Bank expect a stronger yuan over the next year and forecast the USD/CNY pair at 6.40 in 12 months. Key quotes “We look for a continuation of the move over the next six months as monetary policy is diverging with China aiming for exit, while the US still has an easing bias. Overall USD weakness also supports a decline in USD/CNY in the short-term.” “The move in the cross has happened a bit faster than we expected and we have revised down our one month forecast to 6.55 (from 6.60), three months forecast to 6.50 (from 6.55) and six months forecast to 6.45 (from 6.50) while keeping our 12 months forecast at 6.40. Our forecast points to a stronger CNY than the forward market expects.” 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 Germany’s RKI: Not aware of the new covid strain in Germany at present FX Street 2 years USD/CNY has continued to trend lower and was last seen trading below the 6.5500 level. Economists at Danske Bank expect a stronger yuan over the next year and forecast the USD/CNY pair at 6.40 in 12 months. Key quotes “We look for a continuation of the move over the next six months as monetary policy is diverging with China aiming for exit, while the US still has an easing bias. Overall USD weakness also supports a decline in USD/CNY in the short-term.” “The move in the cross has happened a bit faster than we expected and we have revised down… 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.
