Business & Finance
JPMorgan Asset Sees Yuan Gaining 10% as Global Push Deepens
Key Points
EXCLUSIVE JPMorgan Asset Sees Yuan Gaining 10% as Global Push Deepens China’s push to internationalize the yuan has entered a “steady, slow, but nonstop” phase that is likely to support further gains in the currency, according to JPMorgan Asset Management. The yuan may appreciate at least 10% over the long run in real effective exchange-rate terms, Julio Callegari, chief investment officer for Asia fixed income, said in an interview this week. That measure tracks a currency’s strength...
EXCLUSIVE
JPMorgan Asset Sees Yuan Gaining 10% as Global Push Deepens
China’s push to internationalize the yuan has entered a “steady, slow, but nonstop” phase that is likely to support further gains in the currency, according to JPMorgan Asset Management.
The yuan may appreciate at least 10% over the long run in real effective exchange-rate terms, Julio Callegari, chief investment officer for Asia fixed income, said in an interview this week. That measure tracks a currency’s strength against a trade-weighted basket of peers while adjusting for inflation.