China’s yuan will strengthen for the first time in three years in 2024 as narrowing interest-rate differentials ease capital outflows, a Bloomberg survey shows.
The currency will appreciate to 7 by the end of next year, according to the median forecast in a survey of 17 traders and analysts. That compares with its level of around 7.09 on Friday. The main positive over the next 12 months is likely to be a narrowing of the US-China rate gap as the Federal Reserve eases policy, the respondents said.