RMB Going Up 5%?

Goldman’s O’Neill Says ‘Something Brewing’ in China on Currency
Goldman Sachs Group Inc. Chief Economist Jim O’Neill said China may be poised to let its currency strengthen as much as 5 percent to slow the world’s fastest growing major economy.

“I have a strong opinion that they’re close to moving the exchange rate,” O’Neill said in a telephone interview from London after China’s central bank told lenders on Feb. 12 to set aside larger reserves. “Something’s brewing. It could happen anytime.”
WisdomTree Dreyfus Chinese Yuan (CYB) tracks the yuan with forward contracts.

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