CLSA Chief Economist Eric Fishwick told CNBC on Monday the Chinese yuan could reach 7.3 per dollar by the end of 2019 as the trade war drags on.
Fishwick predicts the yuan will reach around 7.3 per dollar by the end of the year. On Tuesday morning, the yuan traded around 7.1144 against the U.S. currency on the Chinese mainland.
by investors, economists and other market watchers in recent months because it is seen as one of the tools China can use in response to rising U.S. tariffs. Since last year, the world's two largest economies have imposed levies on billions of dollars worth of each other's goods, which has affected international markets and dampened global growth outlook. Additional American tariffs are set to take effect on October 1 and December 15.Weak dollar in 2020
"Looking into next year, for the first time in a long time, we're able to talk about the prospects for the dollar weakening again," he said. The U.S. economy is going to slow further as the effects from earlier tax cuts wind down, he said.
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