USD/CNH will remain below 7.30 for the moment – OCBC

USD/CNH could be kept below 7.30 for now, although Trump threatens to impose an American 10% tariff on Chinese goods from February 1, says the FX and credit strategist of OCBC Chang Wei Liang.

Trump refrains from introducing universal tariffs for now

“In his speech in Davos yesterday, Trump talked positively about his relationship with President XI, saying that everything he was looking for was a fair commercial relationship with China. This suggests that the result of negotiations between the US and China will boost any Tariff decision, after a previous call between the two leaders to discuss commerce, fentanilo and Tiktok. “

“Trump has refrained from introducing universal tariffs so far, but has also directed the US trade and treasure departments to investigate the economic and national security risks of large commercial deficits, and recommend appropriate measures.”

Source: Fx Street

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