China’s currency has been moving higher against the USD since June.
The Financial Times today have a pice up on analysts bullish on the currency.
- Analysts anticipate additional gains with arrival of more predictable White House After Joe Biden’s victory was declared on Saturday
- “I think nearly all the volatility has been driven by the US election. It’s quite clear that a Biden White House would follow a much less aggressive stance on trade” chief economist at Bank of Singapore
- Deutsche Bank and Citigroup strategists wrote to clients on Friday to say it was time to re-establish long positions in the renminbi as the fog around the results of the US polls started to clear.