YUAN Weakens PBOC lower Fixing

 "Weak exports scream for a weaker yuan, but at what expense
as far as capital outflows," said Stephen Innes, senior FX
trader for FX broker OANDA in Singapore.
    "The yuan will weaken gradually into the year-end from
fundamental issues unless there is a huge surprise in the
economic climate both in China and the globe," Innes said,
adding his year-end forecast for offshore yuan is
6.8000 per dollar. The so-called CNH fell to as weak as 6.7664
earlier.

Reuters

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Senior Currency Trader and Analyst at OANDA
Stephen has over 25 years of experience in the financial markets and specializes in Asian currencies at OANDA. After having started his trading career with NatWest Bank, he is currently based in Singapore as a Senior Currency Trader and Analyst with OANDA, focusing on the movement of the Aussie Dollar and ASEAN Currencies. Stephen has an extensive trading experience in Interest Rate Futures, Money Markets and Precious Metals. Prior to joining OANDA, he worked with organizations like Cambridge Mercantile, Nat West, Garvin Guy Butler, Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

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