With coronavirus has been controlled in China, but spreading in other regions around the world, it looks like CNY could be expected to raise, especially for China basket currencies. Some of the reports from the top investment bank in London and New York suggest to short EUR/CNH. They believe that European PMI data which public in last week could support EUR because of coronavirus impact. It will strike some countries economy very hard, and those countries must show something about this situation.
Korea has been raised to the highest level about coronavirus. Italy cancelled some activities as well. However, the China government support their economy strongly.
In this situation, although the middle rate of US/CNH is under 7, USD would keep a strong trend, which will push CNH to outperform to the other of basket currencies.
CNH shall be expected.
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