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JPMorgan Revises Yuan Forecast Upward Amid BRICS-Led De-Dollarization Push
JPMorgan Revises Yuan Forecast Upward Amid BRICS-Led De-Dollarization Push
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BTCCSquare news:
JPMorgan has raised its year-end target for China's onshore yuan to 7.15 from 7.30, citing moderating trade war risks and accelerating BRICS de-dollarization efforts. The bank now projects a "gentle downtrend" to 7.10 by mid-2025, reflecting improved US-China trade dynamics following recent London negotiations.
The yuan's stability at 7.1875 against the dollar in European markets signals warming bilateral relations. BRICS nations are increasingly championing the yuan as an alternative reserve currency, with their collective de-dollarization initiatives reshaping global trade flows and currency markets.
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