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5 Jun 2014
CNY heading for stability? - ANZ
FXStreet (London) - Khoon Goh, Senior FX Strategist at ANZ believes that CNY could be heading for a period of stability.
Key Quotes
"We believe the USD/CNY fix is close to peaking, which will see a period of stability in CNY."
"The PBoC will guard against further sharp depreciation."
"With the Chinese economic data showing stabilisation, and our economists expecting a rebound in activity over the second half, we continue to look for a resumption of gradual CNY appreciation. We maintain our year end USD/CNY forecast at 6.15."
Key Quotes
"We believe the USD/CNY fix is close to peaking, which will see a period of stability in CNY."
"The PBoC will guard against further sharp depreciation."
"With the Chinese economic data showing stabilisation, and our economists expecting a rebound in activity over the second half, we continue to look for a resumption of gradual CNY appreciation. We maintain our year end USD/CNY forecast at 6.15."