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Offshore Renminbi Breaks 7.1 Against US Dollar, Expected to Break '7' in the Future
Summary: According to reports from Jinshi, this morning, the offshore Renminbi broke through the 7.1 level against the US dollar, reaching a high of 7.0995, the first time since November last year. The onshore Renminbi against the US dollar closed at 7.1163 the previous day, up 65 points from the previous trading day, setting a new ...
According to reports from Jinshi, this morning, the offshore Renminbi broke through the 7.1 level against the US dollar, reaching a high of 7.0995, the first time since November last year. The onshore Renminbi against the US dollar closed at 7.1163 the previous day, up 65 points from the previous trading day, setting a new high for the daytime closing price since November 6 last year. Economist Pan Hulin stated that the key driver of the Renminbi's appreciation against the US dollar is the expectation of a Fed rate cut, with the Renminbi expected to break '7' in the future.
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Link: Offshore Renminbi Breaks 7.1 Against US Dollar, Expected to Break '7' in the Future [Copy]
