• 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 January 18th

Read via Portal GB Pound Sterling remains well supported. Movements GBPUSD opened at 1.3492 and over the course of the week moved higher to briefly trade above 1.3700 (highest level since May 2018) on

Weekly FX Outlook January 11th

Read via Portal GB Pound Sterling had a weak week. Movements GBPUSD opened at 1.3679, initially dropped down to 1.3540 on Monday before bouncing back to recover all losses by Wednesday morning. It the

Weekly FX Outlook January 4th

Read via Portal GB Pound Sterling had another strong week. Movements GBPUSD opened at 1.3513, moved gradually higher, climbing above 1.37 for the first time since April 2018 in the early hours of this

Copyright © 2020 Audere Solutions Ltd, Inc. All Rights Reserved. Audere is Authorised & Regulated by the Financial Conduct Authority, registered No. 707835.

20 Old Bailey , London. 

  • LinkedIn