CNY Weakness Against USD To Persist: Deutsche Bank

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The DB analysts believe caution is still warranted as domestics’ desire to diversify remains strong.

Given the string of political events in the next few months, weakness in the CNY against the USD and the CFETS trade-weighted basket will persist, believe DB analysts. Perry Kojodjojo and team note in their August 11 research piece titled “RMB: One year on….” that exporters are beginning to convert more of their FX proceeds back…