Danske: yuan to rebound when coronavirus under control

Other EM currencies such as ruble likely to gain ground against dollar

Better future: renminbi to gather pace as Chinese economy picks up in second half of 2020

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Battered by the spread of the coronavirus, the yuan will resume its modest appreciation against the US dollar once the infection has been brought under control and the Chinese economy picks up during the latter half of 2020, says Allan von Mehren, chief analyst at Danske Bank.

The Danish bank expects USD/CNY to slip towards 6.85 within the next three months and settle at 6.8 in 12 months’ time.

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