UBS economist Jonathan Anderson describes its as “one of the most, nay, the most overly-hyped themes in the markets today”. But the question of when and if the Chinese renminbi – currently pegged at 8.28 renminbi to one US dollar – will be revalued against the US currency continues to fascinate and obsess global foreign exchange markets. There appears to be a growing consensus among analysts that the Chinese government will make some adjustment to the peg in the near future, perhaps even in the present quarter.
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