Economists at MUFG Bank discuss Yuan outlook.
CNY to appreciate in the medium term on the back of better economic activities
We expect a still volatile USD/CNH in near term with a bearish bias for the USD/CNY, and we continue to expect CNY to appreciate in the medium term on the back of better economic activities.
We expect USD/CNY to reach 7.00 by the end of Q3, 2023, 6.80 by the end of Q4 2023.
See: Fundamentals still point to higher USD/CNH – Credit Suisse
