The Chinese Yuan traded flat at 6.82413 against the US Dollar on Friday after the onshore rate was set at 6.8121. Investors were mixed as concerns lingered that a global recovery will falter amid the lack of a fresh stimulus package in the US and a spike in coronavirus cases in Europe. The White House is still in a deadlock with Congress over a new fiscal stimulus package as House Democrats reportedly prepare a fresh coronavirus relief package expected to cost about $2.4 trillion in a bid to restart stimulus negotiations with the White House.
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 September of 2020.
The Chinese Yuan is expected to trade at 6.85 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 6.93 in 12 months time.