USD/CNY will be the next EUR/USD, say traders

Beijing: the opening up of China's capital markets is not far off, one panellist said

- Mikael Latreille
- 26 Sep 2019

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As the internationalisation of the renminbi progresses and Chinese capital markets open up, the direction of travel for the currency can only increase, according to market participants.

“It’s a huge opportunity for renminbi growth. We all know it’s going to be the next EUR/USD. It’s just a question of what the path looks like exactly and how long it takes to tread,” said Chris Hall, a senior trader at China Construction Bank, speaking on a panel at the Sibos conference in London on September 23

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