A Republican Win in U.S. Likely to Push USD/CNY Higher -- Market Talk

Dow Jones10-25

0806 GMT - A Republican win in the U.S. would likely push USD/CNY higher,Goldman Sachs analysts say in a research note. A Republican sweep would likely produce the strongest USD reaction and USD/CNY could potentially reset higher toward 7.50, GS says. Tariffs on Chinese imports would be very likely under such a scenario and that could drag on China's economic growth and the yuan's performance. If the dollar is also strengthening broadly there is some risk of USD/CNY slightly overshooting 7.50, at least temporarily, although the PBOC is likely to resist moves above 7.70, they add. USD/CNY last at 7.12. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

October 25, 2024 04:06 ET (08:06 GMT)

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If the dollar is also strengthening broadly there is some risk of USD/CNY slightly overshooting 7.50, at least temporarily, although the PBOC is likely to resist moves above 7.70, they add. USD/CNY last at 7.12. 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A Republican sweep would likely produce the strongest USD reaction and USD/CNY ...</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":"IE0002270589.USD","symbol_name":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2478742506","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2478742506","pubTimestamp":1729843560,"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":"0806 GMT - A Republican win in the U.S. would likely push USD/CNY higher,Goldman Sachs analysts say in a research note. 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