USD/CNY forecast as China’s renminbi growth accelerated

Tanker carrying Russian LNG from sanctioned plant docks in China for first time [https://invezz.com/wp-content/uploads/2025/08/20250828_072107_kBSTN.png] The renminbi is performing well as the Chinese economy continues to thrive. The USD/CNY exchange rate plunged to a low of 7.1300, its lowest level since November last year and 3% below its highest level this year. CHINESE YUAN GAINS MOMENTUM The USD/CNY pair continued falling last week, helped by the Chinese economy, the roaring stock market, and the falling US dollar. Data released on Sunday showed that the Chinese manufacturing and services sectors continued improving in August. The manufacturing PMI increased from 49.3 in July to 49.4 in August, higher than the median estimate of 49.2. While a PMI figure of below 50 is a sign of contraction, the fact that it is moving upwards is a good indicator. The report showed that the non-manufacturing PMI rose from 50.1 in July to 50.3 in August, helping to push the general PMI up from 50.2 to 50.5. Recent data has shown that the Chinese economy was doing well in spite of the ongoing trade war with…