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BoA/ML: USD/RMB peg 'marriage of convenience' is headed for a divorce

Discussion in 'Market News' started by ForexLive, Nov 24, 2015.

  1. ForexLive

    ForexLive Forum Member

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    Comments on the Chinese yuan from Bank of America Merrill Lynch head of global rates and currencies research (David Woo) - "On the eve of the December FOMC meeting ... The question is, given the semi USD/RMB peg and China's increasing open capital account (which come at the expense of China's monetary independence), whether China can live with higher U.S. interest rates and a higher U.S. dollar. We are skeptical. Woo is forecasting the USD/CNY to 7.0

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