Bullish indicating open at $55-$60, IPO prices at $37
Investing.com -- JPMorgan raised its forecast for China’s onshore yuan on Wednesday, now expecting the currency to reach 7.15 yuan per dollar by the end of the year, up from its previous target of 7.30.
The U.S. investment bank cited reduced risks around the U.S.-China trade war and a global trend of de-dollarization as key factors behind the revision. JPMorgan also projected a "gentle downtrend" for the yuan, with the currency potentially reaching 7.10 per dollar by mid-2025.
The dollar remained stable against the yuan at 7.1875 during European trading hours on Wednesday. This stability comes after U.S. and Chinese negotiators announced they had established a framework to revitalize their countries’ trade truce following two days of discussions in London.
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