JPMorgan lifts yuan forecast on easing tariff risks, de-dollarisation trend
LONDON, June 11 (Reuters) - JPMorgan lifted its end-of-year forecast for China's onshore yuan spot price on Wednesday, citing moderating risks around the U.S. trade war and a broader global theme of so-called de-dollarisation.
The U.S. investment bank said it was revising its dollar/yuan target to 7.15 yuan per dollar from 7.30, adding that it also expected a "gentle downtrend" to 7.10 by the middle of next year.
The dollar was steady against the yuan at 7.1875 in European trading after U.S. and Chinese negotiators said they had agreed on a framework to get their countries' trade truce back on track following two days of talks in London.
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BBC News
25 minutes ago
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China ready to drop all tariffs on African imports
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The Independent
26 minutes ago
- The Independent
Boeing's troubled era has dimmed the prospects of a preeminent American manufacturer
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Daily Mail
40 minutes ago
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Labour's Jonathan Reynolds 'hopeful' US-UK deal on car tariffs will FINALLY be in place in days - with Britain 'ready to go' once Donald Trump gives the green light
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