简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract：UBS believed China's central bank (PBoC) wanted to balance multiple objectives with the yuan (CNY) exchange rate and avoid the formation of one-way expectations.
Click Here: After you read it, Daily Routine with WikiFX
The People's Bank of China (PBoC) had given some hints that it intended to reduce the reserve requirements placed on foreign exchange (FX) deposits in order to moderate the rate of currency depreciation. In a note to its customers, the bank said that in addition to lowering its reserve requirements even more, re-introducing the counter-cyclical factor in its daily fixing, and increasing curbs on capital outflows, it had other tools at its disposal to rein in the currency's decline.
UBS forecasted that the Chinese yuan will continue to lose value against the United States dollar (USD) over the next few months, potentially falling below 7 at some point but settling at roughly 6.9 by the end of the year.
The bank forecasted that China's growth momentum will get back up by that time, as well as an improvement in financial market confidence. According to projections made by UBS, China's economy will continue to improve in 2023, while the US dollar will see some weakness, which will result in a USDCNY exchange rate of 6.7 by the end of 2023.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has issued a public warning against CoinCola, adding the platform to its Alert List of suspicious virtual asset trading platforms (VATPs). According to the SFC, CoinCola operates through the website and is suspected of conducting unlicensed virtual asset activities while appearing to target or operate in Hong Kong.
The Malaysian ringgit extended its rally, reaching a five-year high against the US dollar, trading in a narrow range of RM4.04-RM4.05.
WikiFX has launched the “Inside the Elite” Interview Series, featuring outstanding members of the newly formed Elite Committee. During the committee’s first offline gathering in Dubai, we conducted exclusive interviews and gained deeper insights into regional market dynamics and industry developments. Through this series, WikiFX aims to highlight the voices of professionals who are shaping the future of forex trading — from education and compliance to risk control, technology, and trader empowerment.
New fiscal proposals and hawkish central bank rhetoric are reshaping the outlook for the Japanese Yen, as the government unveils a record-breaking budget while the Bank of Japan (BoJ) hints at accelerated monetary tightening.
WikiFX WikiFX WikiFX WikiFX WikiFX WikiFX WikiFX WikiFX WikiFX WikiFX
