Danske Bank: yuan to rise on trade tailwind in 2020

Chinese currency expected to strengthen in light of economic recovery

US China trade war - Getty - 1148851370.jpg
Danske Bank: 50/50 chance of US and China agreeing on a phase two deal

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In the wake of better prospects for a trade deal with the US, Danske Bank has lowered its forecast for USD/CNY, as chief analyst Jakob Ekholdt Christensen believes the yuan will gain more tailwind in 2020, when the Chinese economy recovers further.

“We also see limited risk of a renewed flare-up in the trade war at a time when Trump will be working to get the strongest possible economy heading into the November

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