Bank of America/Merrill Lynch cuts USD/CNY forecast

Bank of America/Merrill Lynch has reportedly cut its USD/CNY forecast for the end of first quarter, because of easing US-China trade tensions and Fed rate hike pause. 

The investment bank forecasts USD/CNY to trade at 6.85 at the end of Q1, versus 7.05 previously. Further, it sees the pair trading at 6.9 at the end of Q2, 6.95 at the end of Q3 and 7 by the end of 2019.