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Wall Street Banks Optimistic on RMB Appreciation; BoA/ G Sachs Expect USD/ RMB to Rise to 6.7
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BoA followed the view of other Wall Street banks, believing that the People's Bank of China (PBOC) will tolerate further appreciation of RMB. It is anticipated that, by the end of 3Q26, the USD/ CNY will come in at 6.7, rather than the previously expected 6.8. Today (4th), the central parity of USD/ RMB jumped up 75 bps to 6.9533, marking a new high since May 2023. This week, both CNY and CNH reached their highest levels in nearly three years. Goldman Sachs expected that, with increased policy tolerance and record capital inflows, USD/ RMB will advance to 6.8/ 6.7 in 6/ 12 months, respectively. AASTOCKS Financial News Website: www.aastocks.com |
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