Shanghai: Global banks raised yuan forecasts as China’s exports and steadier US-China relations supported currency gains, Reuters reported.
The yuan has gained nearly 3% this year to 6.8040 per US dollar. It also rose about 2.6% against major trading partners.
HSBC lifted its year-end target to 6.65 per dollar from 6.75. The bank cited export strength, yuan internationalisation and long-term diversification away from the dollar.
Deutsche Bank raised its end-2026 target to 6.55 per dollar from 6.70. Economists Yi Xiong and Deyun Ou linked the upgrade to stronger imports and future export orders.
Goldman Sachs now expects the yuan to be at 6.80 in three months, 6.70 in six months and 6.50 in 12 months. The bank cited China’s external surplus and export edge.
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Goldman said higher energy costs from the Iran war remain a risk. However, it said global investment in energy security and renewables could support Chinese exports.
HSBC, Deutsche Bank and Goldman Sachs raised yuan forecasts as China’s exports, external surplus and stable US-China ties supported currency gains.
