Markets look for yuan to reach 7.50 amid rising trade tensions

Scaling up of tariffs could weaken the renminbi further, say panellists at FX Week Asia conference

Panel view: the renminbi's depreciation is more than justified by the increase in US tariffs on Chinese goods

The renminbi is projected to decrease to 7.50 against the dollar within the next 12 months, suggesting the double whammy of slowing global growth and an ongoing trade war with the US is spurring more aggressive forecasts of weakness.

“This is typically an environment where emerging market currencies do not do well,” said Jason Daw, head of emerging markets strategy at Societe Generale. “So the Chinese currency is reflecting that, to some extent.”  

Speaking on a panel at the 16th annual FX

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