… Standard Chartered’s view that the Chinese yuan is going to appreciate by 9% steadily against the dollar over the year. As for sterling, my old mate HSBC-mucker Paul Day, who is now at the small Swiss-based MIG Investments, reckons that it could plunge towards parity against the euro. This looks a little extreme – it quotes to a level of 1.9600 in old GBP/DEM, but Paul’s calls (or should that be puts) have been quite good over the past couple of months.
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