FXstreet.com (Barcelona) - USD/RMB is on track for an annualized appreciation of around 6.2%, which according to Mitul Kotecha, Founder at Econometer, "is unlikely to strengthen at such a rapid pace and could even be prone to a softer tone into year end."
Mr. Kotecha adds: "Potential renewed weakness in the CNY could presage downside risks to Asian currencies." In case CNY indeed loses value, the most vulnerable currencies noted by Kotecha are KRW, SGD and TWD "given their high sensitivity to CNY" he says.
Mr. Kotecha adds: "Potential renewed weakness in the CNY could presage downside risks to Asian currencies." In case CNY indeed loses value, the most vulnerable currencies noted by Kotecha are KRW, SGD and TWD "given their high sensitivity to CNY" he says.
