China's yuan to trim losses on hopes trade risks will subside - Reuters Poll

The Chinese yuan is expected to trim some of its recent losses against the greenback over the coming year on hopes that trade risks will subside and a deep sell-off in emerging markets will subside, a Reuters poll found.

Key points (Source: Reuters)

The CNY was expected to gain around 1.7 percent to 6.80 per dollar in a year's time from around 6.92 currently, according to the poll of over 50 foreign exchange strategists.

Sixteen strategists see the yuan weakening to 7 to the dollar or higher at some point over the 12-month period, the highest number of respondents in the Reuters poll predicting that since August 2017.

Nearly half - 18 of 37 common contributors in the latest survey and a September poll - revised forecasts to a weaker yuan, citing expectations for more policy easing from China's central bank in coming months.