Informa: renminbi range trading likely the norm throughout 2019
Further escalation of trade tensions could send China’s currency to 7.25 in near term
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With neither the US nor China appearing ready to cut a permanent deal to squash their escalating trade war, the renminbi’s current exchange rate may be the norm for the remainder of 2019, says Tony Nyman, FX fundamentals manager at Informa Global Markets.
“We do not think either party is ready to make a lasting official deal. And strategic tensions such as in the tech sector are bound to continue,” says Nyman, who
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