China tipped to widen RMB-USD trading band within weeks
StanChart expects Beijing to extend the renminbi's daily trading band against the dollar to aid its inflation battle, triggering a rise in intra-day volatility and long bets on the currency.
Expectations that China will widen the renminbi-US dollar trading band in the near-term are growing as the nation seeks to use additional tools in its fight against persistently high inflation.
Currency strategists Callum Henderson and Robert Minikin of Standard Chartered Bank put the case forward only this week, while a government official at China’s State Administration of Foreign Exchange (Safe) has also spoken out in favour of greater flexibility in the RMB exchange rate.
St…
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