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Main » 2018 » October » 10 » 7 yuan to the dollar?
14:50
7 yuan to the dollar?

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Chinese yuan remains near polutoraletnego minimum paired with the US dollar. On Wednesday morning, 10 October, greenbacks worth 6.9177 yuan. In the beginning of the week it rose to 6.9319. The peak of summer, remember, it was 6.9347 yuan per dollar.

 

 

Yuan remains in line with the long-term downtrend in the pair with the US dollar due to the difference in the ongoing monetary policy in the United States and China. Controlled weakening of the Chinese currency allows to support exporters in China and thereby reduce the pressure of the fact moderate reduction in the rate of economic growth.


RMB behavior management in China remains flexible, it is a convenient mechanism to support exporters and confrontation tighten monetary policy the US Federal Reserve. Earlier this year, the yuan strengthened against the dollar, it was beneficial to the People's Bank of China. However, since April 19, 2018, Yuan went to mainstream sustainable easing as soon as the Fed signaled its intention to raise rates four times this year.


Furthermore, it appears that the relatively weak yuan can be convenient in view of developing China "trade wars" between Beijing and Washington. Quickly, this drama is not over, and need to have a trump card in case of complications. It is reasonable.


There is a chance that the dollar may get stronger to 7 yuan in the next three to five months. This is due to market and financial conditions.

 

Alpari analyst

 

 

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