Deutsche Bank

FX Blueprint 2026: The Great Rotation

LIVE12 December 2025USD bearish

Overview Forecasts Trades Currencies Scenarios Technicals Volatility EM Strategy Macro Quant

Back to Currencies

USD/CNY

Name: Investment Bank FX Research Directory
Creator: FX Bank Forecast
License: https://fxbankforecast.com/terms
Keywords: bank FX research, investment bank reports, FX strategy, institutional research directory, bank forecasts

CNY set to appreciate as PBoC allows managed strengthening and capital inflows a

Bullish

DB Forecast Path

Cross-Firm Forecast Comparison

Key Drivers

PBoC managed appreciation

Capital inflows

Trade surplus

Domestic recovery

Portfolio rebalancing

All Firm Targets (Dec '26)

JPMModerately Bullish7.05

GSBullish6.90

INGModerately Bullish6.90

MUFGModerately Bullish6.90

BARCModerately Bullish6.90

BofABullish6.85

MSBullish6.80

DBBullish6.75

Analysis Summary

CNY set to appreciate as PBoC allows managed strengthening and capital inflows accelerate. USD/CNY to 6.75 as part of the broader Asia re-rating theme.

View all currencies across firms

FX BANK FORECAST · COVERAGE

Institutional FX coverage in your inbox

Aggregated year-end forecasts, scenario shifts, and curated analyst notes from eight institutional desks. No promotion.