USD/CNY Likely to Average 7.45 in 2H -- Market Talk

Dow Jones07-25

0459 GMT - USD/CNY is likely to average 7.45 through 2H, according to BofA analysts in a research note. The PBOC is managing the yuan's depreciation carefully, however, its recent cuts to the seven-day reverse repo rate and loan prime rates were a concession that monetary easing is needed to support economic growth, which will create a bearish CNY bias, the analysts say. Factors such as divergent U.S.-China macroeconomic cycles and the widening U.S.-China yield gap may also impact the CNY's performance. USD/CNY is currently traded at 7.26. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

July 25, 2024 00:59 ET (04:59 GMT)

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The PBOC is managing the yuan's depreciation carefully, however, its recent cuts to the seven-...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"USD","symbol_name":"ProShares Ultra Semiconductors","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2454890299","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2454890299","pubTimestamp":1721883540,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0459 GMT - USD/CNY is likely to average 7.45 through 2H, according to BofA analysts in a research note. The PBOC is managing the yuan's depreciation carefully, however, its recent cuts to the seven-day reverse repo rate and loan prime rates were a concession that monetary easing is needed to support economic growth, which will create a bearish CNY bias, the analysts say. Factors such as divergent U.S.-China macroeconomic cycles and the widening U.S.-China yield gap may also impact the CNY's performance. USD/CNY is currently traded at 7.26. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"USD":"ProShares Ultra Semiconductors","CNY":"Morgan Stanley Market Vectors Renminbi USD"},"translate_title":"美元/人民币2小时平均水平可能为7.45——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CNY":1,"USD":1,"USDCNY.FOREX":1},"content_text":"0459 GMT - USD/CNY is likely to average 7.45 through 2H, according to BofA analysts in a research note. 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