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USD/CNY seen lower at 6.85 in three months after US-China phase one trade deal – Goldman Sachs

Goldman Sachs economists express their take on the currency policy within the broad details of the US-China phase one trade deal released after the historic signing ceremony.

Key Quotes:

“Don't see a lot new here.

Less relative to what's in the United States-Mexico-Canada Agreement, particularly given there is no agreement to publish intervention data.

Nothing in it that significantly alters our outlook for the yuan.

We see the currency moving to 6.85 in three months -- so close to flat.”

  • China’s Finance Ministry issues statement on phase one trade deal with the US
  • USD/CNY extends downside towards 38.2% Fib target on trade-deal finally signed and delivered

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