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China: Yuan depreciation coming – SocGen

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 1, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Delhi) – Societe Generale EM strategists expect a gradual and controlled move higher in the USD-CNY to 6.80 by end-2016.

    Key Quotes

    “A larger move is possible if regional currencies depreciate more than the RMB and the associated trade-weighted appreciation proves too much for policymakers to bear relative to growth/employment objectives. But, beware PBoC intervention, if long USD-CNH positioning becomes stretched: see Asia Strategizer.”

    “Following an IMF staff report recommending inclusion of the RMB in SDR, the inclusion is expected to be confirmed today.”
    For more information, read our latest forex news.
     

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