Yuan enters second half of its depreciation - RBS

According to the analysts at RBS, Chinese yuan faces unabated depreciation pressure, arising from both cyclical and structural headwinds as we move forward.

Key Quotes 

“The PBoC will likely stick to its current rule of fixing, which navigates an orderly depreciation without triggering panic.”

“Yuan’s stop-and-go depreciation will thus continue, with USDCNY trading at 7.20 and CFETS index at 89.0 by end-2017.”