Feb
04
Lonely Yuan Bulls Say the Hedge Fund Crowd Has It All Wrong
By-
Forecasts for weak yuan challenged by small group of optimists
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Goldman predicts PBOC will start boosting its reference rate
The way most currency forecasters see it, a weaker Chinese yuan is all but inevitable.
Thirty-nine of 45 strategists tracked by Bloomberg say the currency will drop against the dollar by year-end, while bearish option bets have swelled to a notional $443 billion as hedge fund managers from Bill Ackman to Crispin Odey positioned for declines. China’s record levels of debt, slowing economic growth and accelerating capital outflows make a compelling case for pessimism…
Lonely Yuan Bulls Say the Hedge Fund Crowd Has It All Wrong
