• 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

Read via Portal GB Pound GBP lost further ground against the dollar while regaining brief losses against the euro. Movements GBPUSD opened at 1.2295, before reaching a low of 1.2261 on Monday. In the

The three dominant themes for April were the ongoing Ukraine invasion, China’s draconian Covid lockdowns and Fed tightening. As Putin prepares to “celebrate” VE day with his laughable assertion the in

Read via Portal GB Pound Revisions to the outlook for UK economic growth by the BoE meant GBP suffered heavy losses against USD and EUR. Movements GBPUSD opened at 1.2551 before a volatile mid-week. O