USD/CNY to remain volatile between 6.9-7.0 range in future – Survey

Various market participants surveyed by China Securities Journal showed on Tuesday, the USD/CNY exchange rate may remain volatile in a range between 6.9 and 7 yuan in the future.

Further Findings:

The current valuation of RMB assets is generally low and therefore attractive to foreign investors.

Expect the RMB to appreciate slightly.

• China’s NDRC: China has the confidence and conditions to achieve full-year economic targets
• PBOC may implement 2 targeted RRR cuts next year – China Press