Svenska Handelsbanken are Bloomberg's top rated RMB forecaster. Kudos to them.
Svenska says the PBOC is going to hit the brakes on yuan deprecation soon
- to avoid sparking global volatility and exacerbating capital outflows
- "They will take a breather now and celebrate that they have managed to depreciate the yuan without creating too much noise and without creating too much capital outflows," said Bjarke Roed-Frederiksen, a Copenhagen-based economist at Handelsbanken, the most accurate yuan forecaster tracked by Bloomberg over the last four quarters.
Further, JPMorgan Asset Management add that
- The
case for an end to yuan weakness is supported by its impending entry
into the International Monetary Fund's reserves basket in October as
well as a dovish Federal Reserve spurring dollar declines
There is more at the Bloomberg piece, and given the length and extent of the yuan decline its worth a read more closely
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