USD/CNY to reverse course and head lower toward year-end forecast of 6.70 – MUFG USDCNY PBOC China Banks
Our forecast for USD/CNY to reverse course and head lower to our year-end forecast of 6.70 is based on our view for a broad-based sell-off for the US dollar in response to building expectations for the Fed to cut rates, and our outlook for growth in China to strengthen during the second half of this year.
We are encouraged that the PBoC is now being more proactive to support growth and expect more stimulus both monetary and fiscal to be provided in the coming months.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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