USD/CNY: Continued improvement in China’s economy should support Yuan down the road – Commerzbank

Economists at Commerzbank discuss Asian currencies outlook, and in particular, the Chinese Yuan. In their view, CNY should streghtne down the road.

Elevated Oil prices likely to be a negative factor for Asian currencies 

“In FX, elevated Oil prices amid the OPEC+ decision to cut Oil production are likely to be a negative factor for CNY and Asian currencies in general.”

“USD/CNY will probably hover close to 6.90 in the near term. But the continued improvement in China’s economy should support CNY down the road.”