Top Yuan Forecaster Exits Long Trade After Making 4.5% Gain

Author: Eamonn Sheridan | Category: News

Bloomberg ranks Sean Yokota head of Asia strategy in at Skandinaviska Enskilda Banken in Singapore the most accurate forecaster for the yuan for Q2

  • SEB have now exited its long positions in the yuan
  • "Into year-end 2017, I think much of the move lower in the dollar-yuan rate is finished," said Yokota. "The PBOC's fixing behavior has recently turned more neutral and does not show a bias to strengthen the yuan against the dollar as we saw in May and June. The PBOC doesn't need to see a strong currency when exports are slowing."