Home > Forex channel >                 text

Zhao Ying, chief of Yingying International: The rise of the renminbi is caused by the dollar’s ​​selling

January 11, 2019 20:19
source: Phoenix Network

Oriental Fortune APP

  • Convenient
  • Mobile phone viewing financial news
  • Professional, rich
  • Master the pulse of the market

Read articles on your phone

  • prompt:
  • WeChat sweep
  • Share it to you
  • Circle of friends

K usdcnh_64

K usdcnyi_0

K usdcnyc_0

On January 11th, Beijing time, both onshore renminbi and offshore renminbi broke the 6.75 mark, and the intraday gains expanded by nearly 400 basis points. As of the close, the onshore renminbi against the US dollar was reported at 6.7482, and the offshore renminbi against the US dollar was currently reported at 6.7476.

Zhao Ying, chief strategy officer of Haoying International, said in an interview with Fenghuang.com that the RMB has broken through the four levels of 6.78, 6.77, 6.76 and 6.75, respectively. The main reason is that the US dollar has suffered a sell-off.

First of all, recently, many senior officials of the Fed have turned to the doves in a collective manner. Powell’s speech also rarely shows the dovish tendency. It can be seen that the Fed believes that there is a large risk of economic growth, and the contraction in 2019 tends to be cautious.

The cme observation tool shows that the Fed’s interest rate hike by 25 basis points in the first half of the year is less than 15.7%, which means that the Fed’s rate hike in 2019 may be lower than twice expected in December 2018.

Second,Global stock marketThe volatility intensified, the market entered a safe-haven mode, and the yen and the Swiss franc appreciated a lot. The Japanese yen has a higher weight in the US dollar index.currencyThe sharp appreciation will inevitably lead to a lower US dollar index.

(Article source: Phoenix Network)

                (Editor: DF307)

you might be interested
  • News
  • stock
  • global
  • Hong Kong stocks
  • US stocks
  • futures
  • Foreign exchange
  • life
    click to see more
    No more recommendations
    • Code
    • name
    • Latest price
    • Quote change
    Please download Oriental Fortune products to see real-time quotes and more data.
    Solemnly declare:Oriental Fortune.com publishes this information to disseminate more information and has nothing to do with the position of this website. Oriental Fortune.com does not guarantee the accuracy, authenticity, completeness, validity, timeliness, originality, etc. of all or part of this information (including but not limited to text, data and graphics). The relevant information has not been confirmed by this website, and does not constitute any investment advice for you. According to this operation, the risk is at your own risk.
    couponcode3.xyz