Economic data

Chinese Yuan: PBoC resistance caps appreciation – Societe Generale

FXStreet5 November 2026, 20:27 UTCPeople's Republic of China

Societe Generale analysts Frank Benzimra, Michelle Lam and Kiyong Seong argue that the renminbi is nearing its peak as the PBoC pushes back against one-sided CNY strength. They expect USD/CNY to bottom at 6.60 in 1Q27, citing higher FX reserve requirements and potential fixing adjustments as key tools. Domestic liquidity and low inflation support slightly lower Chinese rates.

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