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- Yuan to head towards 7.10 or 7.15 per dollar by year-end - SocGen
Yuan to head towards 7.10 or 7.15 per dollar by year-end - SocGen
Societe Generale's Greater China economist, Michelle Lam, spoke to Bloomberg TV:
PBOC will watch carefully on capital outflow dynamics in the near-term
Doesn't want to upset traders too much on the matter
If trade tensions continue to escalate, can expect USD/CNY to rise to 7.50
PBOC may tighten capital controls if outflows start to pick up
However, doesn't expect pace of capital outflows to be as dramatic as in the past
Markets are more prepared to deal with a weaker yuan now
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