No return to RMB ‘one-way street’: HSBC
Renminbi appreciation is set to slow in the second quarter of this year, as the inflows that have driven its performance so far this year experience a seasonal slowdown. The currency will still strengthen this year, says HSBC, but the pace could be tempered by economic policy.
The appreciation of the renminbi, which has been supported by heavy inflows in spite of the strength of the US dollar and soft Chinese economic data, is set to ease off in the second quarter (Q2) of this year, according to HSBC.
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