Renminbi could jump 3% by year-end, says RBC’s Jackson

25 Apr 2012

The appreciation of the renminbi has been a big driver of dim sum bond buying since the market opened less than two years ago, but increasing doubts about the rise of the currency have made investors more and more focused on yields. But there is still room for the currency to go up, according to Brian Jackson, a senior strategist at RBC Capital Markets.

The People’s Bank of China widened the acceptable daily trading band of the renminbi last week, announcing that it would allow the currency to trade 1% above or below a parity rate it announces at the start of each day — double the range it had allowed before. ...

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