According to CIBC, the USDCNH exchange rate of 7.20390 is projected to decrease to 7.08 during the third quarter and further decline to 6.85 during the fourth quarter.

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USDCNH Chart by TradingView

Policy beta to CNH should dissipate a bit, which suggests modest downside for USD/CNH in the near-term, economists at CIBC Capital Markets report.

See: USD/CNY will likely continue to trade largely between the 7.10 and 7.20 range – Commerzbank

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