In this light, we believe the pace of appreciation will likely be rather moderate in the coming weeks.
More Quotes from Qing Wang:
The end of quantitative easing will definitely be yen positive. Government bond yields are going to rise and that increases the attraction of the yen.Qing Wang
Although the People's Bank of China will retain the ability to heavily influence the exchange rate, more flexibility will likely present in coming weeks.
Qing Wang
It makes a lot of sense for the authorities to allow for more volatility and faster appreciation. This is consistent with what the authorities have been saying, that they will allow more flexibility in the currency, especially in light of economic and political pressure from the U. S. and European Union.
Qing Wang
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