China Yuan to slip as US dollar regains lost ground - Reuters poll

The results of a Reuters poll of currency strategists showed on Thursday, the Chinese Yuan is expected to drop slightly against the US dollar next year, in the wake of renewed hopes of the US tax reforms and Fed monetary policy tightening.

Reuters polled over 60 foreign exchange analysts between Nov 6-8.

Key Findings:

“The Chinese currency, which has gained over 4 percent this year, is now forecast to fall more than 1 percent to 6.72 per dollar in a year from Wednesday’s level of around 6.63. That is similar to predictions made last month.

India’s rupee, which has gained over 4 percent this year, is expected to trade in a tight range against the dollar over the coming 12 months. Median forecasts showed the rupee trading at 65.15 per dollar in a year, not far from the 64.98 it was at on Wednesday.”