Goldman Sachs: Upgrades CNY forecasts, now sees USD/CNY at 7.00 in 12 months - investingLive
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Goldman Sachs: Upgrades CNY forecasts, now sees USD/CNY at 7.00 in 12 months investingLive
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4 itemsGoldman Sachs anticipates the yuan will strengthen, predicting USD/CNY to reach 7.20, 7.10, and 7 in upcoming months - VT Markets
Goldman Sachs says yuan 20% undervalued, lifts forecasts to 6.50 in a year
Lead — Goldman Sachs' recent analysis underscores a significant undervaluation of the Chinese yuan, estimating it to be over 20% lower against the US dollar. The bank has revised its forecasts upward, projecting the yuan to strengthen to 6.80 in three months, 6.70 in six months, and 6.50 in a year, driven by structural economic factors rather than short-term events. Per the full note [source], this perspective is supported by China's unprecedented external surplus and improving market conditions. The convergence of forecasts from major firms like Goldman and JPMorgan suggests a broader market shift towards yuan appreciation, which could have substantial implications for dollar positioning and commodity markets.
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