(Bloomberg) -- Investors from Switzerland to
California are banking on U.S. Treasury Secretary Henry Paulson
convincing China to let its yuan appreciate more than 5 percent
in coming months.
Western Asset Management Co. in Pasadena and Pictet Asset
Management in Geneva are buying contracts tied to the future
value of the yuan, driving the price so high that the currency
must strengthen at least 5.5 percent in the next 12 months
before they see any profit. The so-called non-deliverable
forwards are rising at the fastest pace in two years.
Read more at Bloomberg Currencies News
California are banking on U.S. Treasury Secretary Henry Paulson
convincing China to let its yuan appreciate more than 5 percent
in coming months.
Western Asset Management Co. in Pasadena and Pictet Asset
Management in Geneva are buying contracts tied to the future
value of the yuan, driving the price so high that the currency
must strengthen at least 5.5 percent in the next 12 months
before they see any profit. The so-called non-deliverable
forwards are rising at the fastest pace in two years.
Read more at Bloomberg Currencies News
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