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Pictet WM: Decline in USDCNY rate will be temporary

Although the likelihood that the USDCNY exchange rate will move above the 7 threshold in the next 12 months has declined significantly, Pictet Wealth Management expects the CNY’s recent rally to be temporary. “Given our positive take on the US dollar for the remainder of the year, the decline in the USD/CNY rate should be temporary, irrespective of fixing mechanisms,”…

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