The Chinese Yuan lost 0.00611 points or 0.09% to 6.9382 against the US Dollar on Thursday after the onshore rate was set at 6.9429. Investors moved away from the risk-sensitive Yuan ahead of talks between Beijing-Washington trade officials this weekend, with Beijing pushing to widen the agenda to include Washington's recent crackdown on businesses including TikTok and WeChat. White House economic adviser Larry Kudlow said this week said the phase-one trade deal was "fine right now," comments which helped the yuan touch a five-month high in a brief sign of market confidence. Meantime, the People's Bank of China (PBoC) injected liquidity of CNY 150 billion through seven-day reverse repos, while keeping the rate unchanged at 2.2%.
Historically, the Chinese Yuan reached an all time high of 8.73 in January of 1994. Chinese Yuan - data, forecasts, historical chart - was last updated on August of 2020.
The Chinese Yuan is expected to trade at 6.97 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 7.05 in 12 months time.