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Citi forecasts slowdown in US dollar depreciation
November 16, 2009
The US bank is predicting the US dollar will depreciate 8% against the Euro and 7% against the yen by September 2010. A weak dollar could be a driver for China to depeg the renminbi, writes Minggao Shen, Citi’s Greater China economist.
The peg with the dollar is by no means all negative to China’s competitors. It helped to stabilise the global foreign exchange market when almost all major currencies were depreciating against the dollar in the early period of the crisis....
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