Global Broker Regulation Inquiry App
WikiFX
English
简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
UBS Offers Thoughts on China's Yuan Outlook
Abstract：UBS believed China's central bank (PBoC) wanted to balance multiple objectives with the yuan (CNY) exchange rate and avoid the formation of one-way expectations.
Click Here: After you read it, Daily Routine with WikiFX
The People's Bank of China (PBoC) had given some hints that it intended to reduce the reserve requirements placed on foreign exchange (FX) deposits in order to moderate the rate of currency depreciation. In a note to its customers, the bank said that in addition to lowering its reserve requirements even more, re-introducing the counter-cyclical factor in its daily fixing, and increasing curbs on capital outflows, it had other tools at its disposal to rein in the currency's decline.
UBS forecasted that the Chinese yuan will continue to lose value against the United States dollar (USD) over the next few months, potentially falling below 7 at some point but settling at roughly 6.9 by the end of the year.
The bank forecasted that China's growth momentum will get back up by that time, as well as an improvement in financial market confidence. According to projections made by UBS, China's economy will continue to improve in 2023, while the US dollar will see some weakness, which will result in a USDCNY exchange rate of 6.7 by the end of 2023.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Long
Short
Quoted currency
FED
ECB
BOJ
FOMC
GDP
Hawkish
Dove
Macro
Currency Pair
Inflation
Fundamental analysis
Technical analysis
Asian session
G7
G8
PBOC
BOE
Forex news
Forex Analysis
monetary policy
interest rates
inflationary
Read more
Voices of the Golden Insight Award Jury | George Georgiou, the Co-Founder of Dynamic Works
WikiFX Golden Insight Award uniting industry forces to build a safe and healthy forex ecosystem, driving industry innovation and sustainable development, launches a new feature series — “Voices of the Golden Insight Awards Jury.” Through in-depth conversations with distinguished judges, this series explores the evolving landscape of the forex industry and the shared mission to promote innovation, ethics, and sustainability.
Original 12h
Prop Firm Tradeify Signs ‘The Nuke’ as Global Brand Ambassador
Miami-based prop trading firm Tradeify has officially announced a major long-term partnership with Luke “The Nuke” Littler, the current World Number 1 and reigning 2024/2025 PDC Darts World Champion. Littler joins Tradeify as its new Global Brand Ambassador, marking one of the company’s most significant branding investments to date.
Original 14h
Close Up With WikiFX —— Take A Close Look At Amillex
With the rapid growth of global multi-asset investment markets, the differences among regional forex markets have become increasingly significant. As a forex broker information service platform operating in more than 180 countries and regions, WikiFX is dedicated to helping investors in every market identify reliable brokers. Therefore, we have launched an exclusive interview series —— "Close Up With WikiFX", offering in-depth conversations with local brokers. This series aims to dive deep into frontline markets and provide first-hand information, helping investors gain a clearer and more comprehensive understanding of quality brokers.
Original 19h
Cloudflare Outage Disrupts Broker Websites and Crypto Platforms
Cloudflare outage causes widespread disruption to broker websites and crypto platforms, highlighting risks in web infrastructure reliance.
Original Three days ago
WikiFX Broker
Latest News
Interactive Brokers Expands Access to Taipei Exchange
WikiFXSimulated Trading Competition Experience Sharing
WikiFXWinproFx Regulation: A Complete Guide to Its Licensing and Safety for Traders
WikiFXAxi Review: A Data-Driven Analysis for Experienced Traders
WikiFXINZO Regulation and Risk Assessment: A Data-Driven Analysis for Traders
WikiFXPepperstone CEO: “Taking Down Scam Sites Almost Every Day” Becomes “Depressing Daily Business”
WikiFXThe CMIA Capital Partners Scam That Cost a Remisier Almost Half a Million
WikiFXIs Seaprimecapitals Regulated? A Complete Look at Its Safety and How It Works
WikiFXeToro Cash ISA Launch Shakes UK Savings Market
WikiFXCleveland Fed's Hammack supports keeping rates around current 'barely restrictive' level
WikiFXCurrency Calculator
USD
CNY
Current Rate: 0
Amount
USD
Available
CNY
Calculate