#USDCNY @ 690311 to rise to 7 in the first quarter of next year – Rabobank, Pivot Orderbook analysis
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Between April 15 and end-August USD/CNY rose no less than 8.5% to a rate of 6.89. Economists at Rabobank expect the pair to hit 7 in the fisr quarter of 2023.
“After more promising data in June, China’s economy appeared to show signs of early recovery. However, this turned out to be a short-lived one.”
“We expect to see a USD/CNY exchange rate of 6.95 by year-end and expect USD/CNY to rise to 7 in the first quarter of next year.”
“Inflation is expected to rise to 3.1% during the end of 2022.”
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