Parity of AUD to CNY on 29th depreciated by 131 basis points
Parity of AUD to CNY exchange rate is now at 5.2339. A depreciation of 131 points. This is the lowest since August 31.
News updated by Value Currency Exchange : Best Brisbane Foreign Exchange.
For the best exchange rate Brisbane has to offer – visit Value Currency Exchange
Overnight market, the dollar index continued to rebound, at 92.72. Because investors cut short positions. Latest data show that the dollar index short positions in January is the highest since January.
Yesterday, the AUD to the CNY officially closed at 5.2339. A record low in recent months. Last Friday’s official closing price fell nearly 300 points.
Analysts believe that the recent decline in the CNY AUD exchange rate. It is a direct appreciation of the early appreciation of the future. The future reproduction of the unilateral rise in the low probability of depreciation.
Outlook of Australian AUD to CNY of China exchange rate trend
With the recent period of Chinese Yuan continuous callback. Buying wave of tide tends to Surging. However, there are Chinese-funded traders said that the yuan’s depreciation of the remaining space is relatively narrow. And now this position, there are still space up and down. News updated by Value Currency Exchange : Best Brisbane Foreign Exchange.
Bank of China chief researcher Zong Liang pointed out that the future period of time. The Chinese Yuan exchange rate has small opportunity to appreciate. The long-term trend of the Chinese Yuan exchange rate is the economic fundamentals. The exchange rate goes through some short-term factors. And fundamentals have been strong. But eventually return to economic fundamentals. Current AUD to CNY exchange rate is in balance. There is no obvious underestimation or overestimation. Sino-US economic situation is also more balanced. Therefore, the future of the RMB exchange rate will maintain. The two-way volatility will reduce. In the short term experts suggest investors to hold.
Read up on more Forex NEWS
Visit our Facebook Fanpage for more useful information on Forex News
Related Tag: Foreign Currency Exchange Brisbane