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- USD/CNH to rise towards the upper-end of the 6.65-7.15 range – Credit Suisse
USD/CNH to rise towards the upper-end of the 6.65-7.15 range – Credit Suisse
Economists at CreditSuisse continue to look for USD/CNH to trade in a 6.65-7.15 range over the next three months.
PBoC’s “red line” for USD/CNY is at 7.20
“For USD/CNY, we still think the PBoC’s ‘red line’ is at 7.20.”
“US 10y yields have fallen back below 3.00% since peaking at 3.20% on Monday, May 9, providing some relief to USD/CNH. Still, we expect USD/CNH to continue to rise in coming months as Fed expectations push US yields higher.”
“We reiterate our view that USD/CNH will rise within a 6.65-7.15 trading range over the next three months.”
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