Global Market: Yuan hits 4-year high as traders bet on further gains - The Economic Times
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Global Market: Yuan hits 4-year high as traders bet on further gains The Economic Times
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Goldman Sachs says yuan undervalued by up to 25% and markets underestimate how far it can rise
Goldman Sachs' analysis highlights a pivotal moment for the yuan, estimating it is undervalued by 20% to 25%, with potential for a policy-tolerated rise that would positively impact Asian currencies closely aligned with China's trade dynamics. Per the full note [source], the firm's projection includes a target of 6.40 per dollar within a year, indicating a strategic pivot for China as its trade surplus remains robust, revealed at over $800 billion in the first eight months of this year. A stronger yuan could not only enhance local assets but also shift the balance for Chinese exporters toward those tapping higher-value technology and domestic markets, despite potential margin pressures. However, risks remain, particularly from the dollar's strength driven by inflationary and geopolitical factors, which could curtail the yuan’s ascendancy if conditions sour.
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