Goldman Sachs expects USD/CNY to decline further, citing
- growing optimism around U.S.-China trade talks
- shift from short to long CNY positions
The move lower could be swift and event-driven in the near term, while the PBOC may guide a more gradual adjustment over time.
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The People’s Bank of China will welcome back yuan strength.
This article was written by Eamonn Sheridan at www.forexlive.com.
