In the first half of the year, the CNY corrected in particular from May. Economists at Natixis expect the Yuan to recover later in the year.

The CNY will recover in the second half 

In the short term, the USD/CNY could continue to appreciate to 7.25. 

Thereafter, the expected improvement in Chinese growth in the second half of the year, the continued depreciation of the Dollar and the expected fall in US long-term interest rates will favour a return of the USD/CNY to around 7.00 by the end of the year