Garcia-Herrero Warns about Bets on 7 for Renminbi
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The Chinese yuan has been under pressure in recent weeks due to the double dip in recent economic data and more importantly, the escalating trade war with the U.S. Since then, the yuan has shown weakness against the U.S. dollar, breaking 6.9 to the USD, but also against major global currencies. Many believe that the yuan may hit “7”, but Prof Alicia Garicia-Herrero warns that too many crowded bets could be dangerous.
Read her opinion piece published on 7 June on LatinTrade.com (behind a paywall)
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