Chinese Yuan: Constructive appreciation bias into 2027 – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong maintain a constructive outlook on the Chinese Yuan, projecting USD/CNY at 6.62 by end-2026 and 6.46 by end-2027. Stronger PBoC fixings signal greater policy tolerance for Renminbi (RMB) strength, while resilience despite broader US Dollar (USD) gains and expectations of easing USD strength support a measured appreciation trajectory, albeit with…
OCBC strategists Sim Moh Siong and Christopher Wong project a constructive outlook for the Chinese Yuan, with USD/CNY expected to reach 6.62 by the end of 2026 and 6.46 by the end of 2027. Stronger People's Bank of China (PBoC) fixings indicate a more tolerant policy towards RMB appreciation, while resilience in the face of USD gains and expectations of easing support the gradual appreciation trend. Despite the positive signs, potential risks remain from renewed USD rallies or softer domestic growth.
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