A Bloomberg TV interview with a Standard Chartered analyst
year-end forecast for the yuan to 7.23
Citing:
- higher tariffs,
- decline in export-market share
- weaker economic growth
PBOC has changed its FX stance to allow more CNY depreciation
- Does not expect PBOC to conduct heavy market intervention at the expense of FX reserves
Uncertainty over the trade war will continue to weigh on risk sentiment, High-beta currencies and those exposed to global trade or weaker semi-conductor business cycle will suffer
- 'very bearish" on Korean won and Taiwan dollar
- like the yen as a safe-haven currency
Vid is here:
