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Tuesday, August 08, 2017
Weak USD has led to increase in RMB trading against the USD
ANBOUND

The weak USD has led to an increase in RMB trading against the USD, prompting the closing exchange rate and the middle rate of the RMB against the USD reaching the nine months height. There are some reasons contributing to the weak USD index, which include, 1) market's doubts to the ability of Trump’s administration on implementing his election promise. 2), the market has digested the Fed’s decision to adjust its monetary policy. 3) A stronger Euro. Since mid-March, the accumulated drop in the USD index has exceeded 9%. The exchange rate of RMB in the future, however, is still depending on the trend of the USD.

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