Goldman Sachs: Why we expect more yuan weakness

Discussion in 'Market News' started by ForexLive, Jan 11, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    From Robin Brooks, chief FX strategist: After the weakening of the RMB fix against the Dollar by 1.5 percent in December, the first full week of 2016 saw the pace of depreciation pick up, with the $/CNY fix weakening a further one percent. Besides the faster pace, the recent devaluation trend is notable because the Dollar has traded sideways versus the majors over the past month. We complement that forecast change by giving some context to recent moves and provide some interpretation of what policy intentions might be.

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