Tuesday, March 9, 2010

Roubini predicts Chinese easing on dollar currency peg

Beijing could let the yuan appreciate against the dollar by as soon as next month, ending the Chinese currency’s nearly two-year peg to the greenback, noted economist Professor Nouriel Roubini has told Bloomberg News.

However, "Dr Doom" forecast a “super cautious” move by the Chinese authorities, saying the yuan will be allowed to strengthen by 2% against the dollar initially - followed by an additional 1%-2% appreciation over the next 12 months.
Via The Daily Telegraph

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