Most Unlikely Scenario: Stable Yuan

Bloomberg: Yuan Bulls Near Extinction Keep Faith in Power of People's Bank
“I don’t look to be a contrarian,” said Jason Schenker, president of Prestige Economics in Austin, Texas, who forecasts a 1.3 percent gain. "Right now, things could be quite bearish for China. But nine months or a year from now, we could be in a situation where the accommodating monetary policy has had enough time to generate more growth and modest optimism.”

An article in iFeng begins with a translation of some of this Bloomberg article, but it finishes with the bearish argument about the PBoC intervening through the derivatives market in order to keep reserves from falling.

iFeng: 看多人民币的分析师已经少到几近绝迹

The bulls are gone, Chinese investors have begun scrambling for greenbacks and dollar assets. If this is an investment trend, it is just getting started.

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