Market prepares for rising RMB


Interest rate swaps referencing the widely used 7-day repo benchmark in China adjusted on Monday following the central bank's announcement over the weekend that it would end the renminbi peg to the US dollar, instead switching back to the basket of currencies used as a reference prior to mid-2008.

Swap traders expect the move to create enough renminbi appreciation that the central bank will be able to hike rates more slowly – even though the daily trading band applied to the renminbi, which allo

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: