PBoC could be easing FX policy again, says HSBC
May 17, 2016
Renminbi under pressure against USD as world awaits Trump’s tariff policies
As the PBOC sticks to 7.2-level fixing rate, Donald Trump’s administration’s decisions on tariffs will have the largest impact on the currency in 2025.
The USD/CNY rate stood at 7.33 by time of publication, hitting a 16-month low and continuing its climb into the new calendar year. This is in contrast to the around 7.0 level recorded in September last year, since when the Chinese currency has witnessed continuous depreciation.
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