FxWirePro: Maintain short positions in Chinese yuan; target further extended to 7.4 per USD

Back in June this year, we called on our readers to go short on the Chinese yuan against the USD as the trade tensions started heating up between the U.S. and China, https://www.econotimes.com/FxWirePro-Short-term-Outlook-Buy-USD-CNH-targeting-654-1376249

and in mid-July, we followed up by calling to short the yuan again at the then current rate of 6.75 targeting 6.86 per USD and 7 per USD, https://www.econotimes.com/FxWirePro-Long-dollar-against-Chinese-yuan-targeting-686-and-beyond-1404999

We suggested that facing a showdown with the ‘Impossible Trinity’, China can do little to prevent the yuan from depreciating against the USD, https://www.econotimes.com/Renminbi-Series-China-weaponizing-yuan-theory-may-not-be-right-1406078

With such view, we would like to call on our readers to maintain the short positions in the yuan against the USD with an extended target of 7.4 per USD. The yuan is currently trading at 6.88 per USD.