EM forecaster of 2019: City Index

CNY could hit 7.5 in H2 2020 as trade doubts linger and time runs out for Trump

Kelvin Wong 2020.jpg
Kelvin Wong: global economic slowdown will continue into 2020, as protectionist policies expected to stay

The Chinese yuan may weaken further to 7.4/7.5 against the US dollar in the second half of 2020, after the “trade optimism playbook has waned”, according to City Index, FX Week’s top forecaster for emerging market (EM) currencies for the second year running.

In December 2019, US president Donald Trump said China would purchase US farm products as part of a phase-one trade deal. In a bid to secure votes from agricultural states, with the upcoming US presidential election in 2020, Trump hopes the

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