USD/CNH will reach its apex around 7.2500 – CIBC

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USD/CNH momentarily exchanged above 7.2000. At CIBC Capital Markets, economists look at the outlook for the pair.

Exceptionally slight disadvantage alleviation to 7.2000 and 7.1500 in Q3 and Q4, separately

The USD/CNH pair will reach its highest point near 7.2500.

Almost every week, the media reports that state banks are protecting the onshore Yuan by selling USD in the spot market. From there on, we anticipate that exceptionally slight drawback help should 7.2000 and 7.1500 in Q3 and Q4, separately.

The Yuan will profit from USD shortcoming, however less so than North Asian friends JPY and KRW.

 

About the author

Nafees Saifi // entrepreneur, author, trainer, and stocks and FX trader. 
Nafees Saifi is a professional FX trader from, India. Nafees has extensive experience trading commodities, bonds, and equity futures in the Asian, European, and US markets. Nafees holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.

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