http://www.ft.com/intl/cms/s/0/144ca96c-fdec-11e3-bd0e-00144feab7de.html#axzz36AkGPAJm
By Henny sender
2014.07.01
None of this may be immediately obvious.
Nor does Beijing wish it to be so, for a mix once again of political and market
reasons. For a start, it has no desire to be seen to be kowtowing to the wishes
of the US, especially when these wishes are considered hypocritical given the
US wants a cheaper dollar to support its own exports (of everything except the
energy and technology China wishes to buy). And Chinese regulators are sincere
in their desire for two way trading in the renminbi.
현재, 어떤 것도 명확하지 않을 뿐더러 중국 정부의 의도 또한 정확히
알 수 없다. 일단 미국이 달러 약세를 통해 그들의 수출을 증대 하고자 하는 상황에서 그들이 미국이
원하는 (위완화 강세 추세 그대로) 방향으로 행동할 당위
또한 없는 상황이다. 또한 Chinese regulators는
그들 통화가 한방향으로 움직이는 것을 바라지 않는다.
At the Ira Sohn hedge fund conference in
Hong Kong in June, one popular recommendation was to hold bearish options in
the belief that the renminbi will fall to Rmb7 to the dollar by the end of this
year.
But as long as central bankers everywhere
else do not care about supporting their currencies, any further fall in the
renminbi is likely to prove temporary.
