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Goldman Now Sees Yuan Breaching 7 Per Dollar Within Three Months
Goldman Sachs Group Inc. expects the yuan to weaken past 7 per dollar in the next three months -- a level the currency hasn’t breached in more than a decade. The bank revised its forecasts for the yuan against the dollar because it sees the currency’s decline as a natural offset to higher U.S. tariffs, even if policymakers are reluctant to see it breach the “psychologically important level of 7.00,” strategists including New York-based Zach Pandl wrote in a June 8 note.• Goldman sees the yuan at 7.05, 6.95 and 6.80 in three, six and 12 months, respectively, from 6.95, 6.65 and 6.65 NatWest Markets’ Mansoor ... (full story)