# Asia FX Talking: China will try to hold the line | articles | ING THINK

> ING analysts expect Chinese authorities to hold USD/CNY relatively stable rather than devalue, with a one-month neutral bias and a 3-month forecast of 7.10. They see the Korean won as more vulnerable and expect tariffs may not take effect until late 2025 or 2026.

- Date: 2024-11-14 · published 2024-11-14T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/6697-asia-fx-talking-china-will-try-to-hold-the-line-articles-ing-think
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

Stable yuan expectations reduce the risk of sharp Chinese import cost swings, while the timing of tariffs leaves feed demand uncertainty for the coming year.

## Read by commodity

- USDCNY: neutral
- USDKRW: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-06-17 | [Asia FX Talking: China to continue resisting a weaker renminbi \| articles \| ING THINK](https://feedsoft.ai/events/30010-asia-fx-talking-china-to-continue-resisting-a-weaker-renminbi-articles-ing-think.md) | +0.0% | +0.2% |
| USDCNY | 2023-11-15 | [Asia FX Outlook 2024: Event risk could dominate \| articles \| ING THINK](https://feedsoft.ai/events/33436-asia-fx-outlook-2024-event-risk-could-dominate-articles-ing-think.md) | -1.6% | -1.1% |
| USDCNY | 2019-03-25 | [China: How opening up the financial sector could affect the yuan \| articles \| ING THINK](https://feedsoft.ai/events/60331-china-how-opening-up-the-financial-sector-could-affect-the-yuan-articles-ing.md) | -0.1% | -0.2% |
| USDCNY | 2025-04-29 | [Chinese yuan at a glance: There and back again \| articles \| ING THINK](https://feedsoft.ai/events/25350-chinese-yuan-at-a-glance-there-and-back-again-articles-ing-think.md) | -0.3% | -1.4% |
| USDCNY | 2020-10-26 | [FX Daily: Trading the hemispheres \| ING THINK](https://feedsoft.ai/events/50879-fx-daily-trading-the-hemispheres-ing-think.md) | +0.1% | -1.5% |

## Sources

- think.ing.com: https://think.ing.com/articles/asia-fx-talking-november-2024/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.