UBS sets 2016’s USDCNY floor at 6.8

9 August 2016 | 2 minutes read

UBS believes that further strengthening of the dollar could send the yuan lower than current levels, but does not expect Chinese authorities to let the currency slip beyond 6.8 against the greenback, for fear of a political backlash from trading partners. “[We] expect to see two-way volatility, depending on how the USD moves against other major currencies,” says an investment note…

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