📝 Revising USD/CNY Higher to 6.90: HSBC

Revising Yuan year-end forecast lower to 6.90 to the dollar vs. previous 6.65. Dollar yuan will likely trade new and higher range into 1H 2023. Mid-next year, we see the cross at 6.95, up from our previous view of 6.7. The HSBC fair value range stands at 6.10-7. - HSBC