JPMorgan has cuts its forecasts for USD/CNY, expecting inflows to boost the yuan – USD/CNY Q3 target to 6.95 (revised down from 7.10) – Q4 to 7.0 (from 7.10 also) Citing:
<ul><li>Goods and housing services inflation is on the right path, downward</li><li>The amount of credit tightening we are seeing is less than what I feared in March</li>
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