• Audere Research

Renminbi hits two and a half year high against the dollar - the key drivers and outlook for 2021

Download article
Download PDF • 314KB


Once the pandemic shook the market in February-March last year, one of the effects of the initial massive demand for Dollars was to push the USD/CNY at levels prevailing during the financial crisis in 2008, above 7.15 level. Since then, the Renminbi gradually recovered and overall has gained 10% since June, to close 2020 with an appreciation of more than 6% versus the USD. It has recently hit the highest level against the Dollar since June 2018, breaking 6.50 level and currently trading below it. The attached report reviews the driving factors for this movement as well as looking at the outlook for the Chinese currency and the USD/CNY rate.

Call +44 (0) 203 884 992 to discuss further with an advisor.

Recent Posts

See All

Weekly FX Outlook July 19th

Read via Portal GB Pound Sterling was under pressure. Movements GBPUSD opened at 1.3874 and after trading range-bound during the first part of the week, it started to depreciate to close near a 3-mont

Weekly FX Outlook July 12th

Read via Portal GB Pound Sterling had a volatile week. Movements GBPUSD opened at 1.3842 and traded in a wide range (1.3740-1.3900), ending the week largely unchanged (+0.23%) at 1.3874. GBPEUR opened

Commodities Monthly Roundup ~ July 6th

June saw the market taken by surprise by the Federal Reserve taking a bigger step toward the moment it will start withdrawing its monetary stimulus due to growing inflation concerns. This knocked the