Economics
Trade Fight With U.S. Spurs Top Yuan Forecaster to End Bull Call
- Prestige Economics’ Schenker now sees China’s currency falling
- After its best quarter in a decade, the yuan is now weakening
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Escalating trade tensions between the U.S. and China are shaking Jason Schenker’s conviction in a strong yuan.
Schenker, president of Austin, Texas-based Prestige Economics LLC, has held on to his bullish view on the currency since at least 2016, after the yuan’s shock devaluation in August of the previous year. In 2017, he was among the most accurate analysts tracked by Bloomberg as China’s currency, known officially as the renminbi, defied consensus by rallying.