LONDON (Reuters) -JPMorgan lifted its end-of-year forecast for China’s onshore yuan spot price on Wednesday, citing moderating risks around the U.S. trade war and a broader global theme of so-called de-dollarisation. The U.S. investment bank said it was revising its dollar/yuan target to 7.15 yuan per dollar from 7.30, adding that it also expected a […]
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JPMorgan lifts yuan forecast on easing tariff risks, de-dollarisation trend
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LONDON (Reuters) -JPMorgan lifted its end-of-year forecast for China’s onshore yuan spot price on Wednesday, citing moderating risks around the U.S. trade war and a broader global theme of so-called de-dollarisation.
The U.S. investment bank said it was revising its dollar/yuan target to 7.15 yuan per dollar from 7.30, adding that it also expected a “gentle downtrend” to 7.10 by the middle of next year.
The dollar was steady against the yuan at 7.1875 in European trading after U.S. and Chinese negotiators said they had agreed on a framework to get their countries’ trade truce back on track following two days of talks in London.
(Reporting by Marc Jones; Editing by Amanda Cooper)