人民币破7在望，在岸价升至7.0908创一年来新高

Core Viewpoint - The article discusses the recent performance of the RMB against the USD, highlighting a stable and slightly appreciating trend due to a weaker USD environment and strong domestic equity market attracting foreign investment [2][4]. Exchange Rate Performance - On November 14, the RMB/USD central parity rate was adjusted up by 40 basis points to 7.0825, with a year-to-date increase of approximately 1000 basis points [4]. - The onshore and offshore RMB also showed slight increases, with onshore RMB at 7.0937 and offshore RMB at 7.0935 as of noon on November 14 [4]. - The overall trend for the USD against the RMB has been a one-sided decline throughout the year, with the USD starting at 7.27 RMB and reaching a low of 7.08532 RMB on September 17 [5]. Future Outlook - Analysts predict that the RMB will continue to operate in a strong state in the short term, with potential for moderate appreciation by 2026 [2][7]. - Factors influencing this outlook include the anticipated acceleration of Fed rate cuts and the limited upward space for the USD index due to the impact of US tariff policies [7][9]. - The central bank's policies are expected to provide substantial support for the RMB, ensuring stability in the exchange rate [9]. Market Sentiment - There is a potential for the RMB central parity to test the "7" level, supported by a weak USD and seasonal demand for currency settlement [8]. - Optimistic scenarios suggest that the USD/RMB exchange rate could approach 7.0 by year-end, with a new equilibrium potentially around 6.7 [8][10]. - The RMB is expected to maintain a dual-directional fluctuation pattern, with limited risks of rapid appreciation or depreciation [8].