With
Jason Lui, Head of East Asia Strategy

Ju Wang, Head of Greater China FX & Rates Strategy 

BNP Paribas Hong Kong Branch | Global Markets (Recorded 24 March 2022)   

Diverging monetary policy between China and US is the dominant theme for China’s FX and rates. We expect the RMB to be resilient in Q1, but weaken to 6.60 into year-end on carry compression, slower exports and rising outbound investments into HK. China rates remain a rare shelter in a world of high inflation.  

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