Hong Kong, 11 May 2026 – Goldman Sachs has raised its forecasts for the Chinese yuan, saying the currency is more than 20% undervalued against the US dollar and is likely to strengthen further over the coming year as China’s export competitiveness and external surplus remain powerful support factors.
The investment bank now expects the yuan to trade at 6.80 per US dollar in three months, 6.70 in six months and 6.50 in 12 months, compared with its previous forecasts of 6.85, 6.80 and 6.70 respectively. The yuan is currently trading around 6.80 against the dollar.
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