0426 GMT - The U.S.-China trade agreement could ease CNY depreciation pressure in the near term, say BofA FX and Rates Strategist Claudio Piron and Adarsh Sinha in a research note. The Chinese yuan is responding with modest appreciation following the latest U.S. China trade agreement and a stabilization in U.S.-China trade relations should rightly be welcomed by the markets, they note. China is likely to seek and emphasize USD/CNY stability over the next 90-days, as significant moves in either direction would not serve the economy, the analysts say. While the risks of CNY depreciation in 2Q have diminished, BofA cautions against expecting meaningful appreciation in the near term. USD/CNY last traded at 7.19. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
May 13, 2025 00:26 ET (04:26 GMT)
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