Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Goldman Sachs sees Chinese yuan firming to 6.30 over next 12 months

11/09/2020 | 03:10am EST
Chinese Yuan and U.S. dollar banknotes are seen in this illustration

LONDON (Reuters) - Goldman Sachs has upped its 12-month forecast on the Chinese yuan and the euro, predicting both currencies to appreciate against the dollar after Joe Biden's win in the U.S. election.

The yuan has risen more than 4% against the dollar in the last three months on expectations of a Biden win.

The U.S. investment bank expects President-elect Biden to take a "different approach to U.S.-China relations", which have soured under Donald Trump's presidency.

In a note received late on Sunday, Goldman analysts predicted the nominal trade-weighted dollar depreciating 6% over the coming year. They also see the euro strengthening to $1.25 and the Japanese yen approaching 100 during that period.

(Reporting by Thyagaraju Adinarayan; editing by Sujata Rao)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
THE GOLDMAN SACHS GROUP, INC. 0.01% 289.39 Delayed Quote.9.73%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.00% 6.4845 Delayed Quote.-0.49%
US DOLLAR / CHINESE YUAN RENMINBI (USD/CNY) 0.00% 6.481 Delayed Quote.-0.97%
Latest news "Economy & Forex"
10:38aENERGY : rising raw material prices cause +4.5% hike for electricity and +5.3% for gas
PU
10:07aPolice to let protesting farmers into New Delhi on Republic Day - official
RE
10:04aUser Reports Indicate Reddit Is Having Problems - Downdetector
RE
09:53aTrump administration had no coronavirus vaccine distribution plan -White House
RE
09:25aAfter failed Carrefour bid, Couche-Tard seeks to reassure befuddled shareholders
RE
09:02aCASCADIA BLOCKCHAIN : Provides An Update on EBX
AQ
07:28aCanada's Trans Mountain pipeline sees fortunes shine after KXL's demise
RE
06:27aKuwait's emir reappoints PM to form new cabinet after parliament standoff
RE
06:18aUAE cabinet approves debt strategy to build local currency bond market
RE
06:06aCENTRAL BANK OF UNITED ARAB EMIRATES : CBUAE conducts cyberattack simulation on banking sector to boost the sector resilience
PU
Latest news "Economy & Forex"