A Republican Win in U.S. Likely to Push USD/CNY Higher -- Market Talk

Dow Jones
2024/10/25

0806 GMT - A Republican win in the U.S. would likely push USD/CNY higher,Goldman Sachs analysts say in a research note. A Republican sweep would likely produce the strongest USD reaction and USD/CNY could potentially reset higher toward 7.50, GS says. Tariffs on Chinese imports would be very likely under such a scenario and that could drag on China's economic growth and the yuan's performance. If the dollar is also strengthening broadly there is some risk of USD/CNY slightly overshooting 7.50, at least temporarily, although the PBOC is likely to resist moves above 7.70, they add. USD/CNY last at 7.12. (tracy.qu@wsj.com)

 

(END) Dow Jones Newswires

October 25, 2024 04:06 ET (08:06 GMT)

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