Institutional investors may have to start rethinking their renminbi strategies now that the Chinese central bank has stepped up its efforts to deter one-way bets on the currency.
That's the view of Jeremy Armitage at State Street Corp., who thinks investors need to start thinking about better managing the risks associated with the Chinese currency as they continued this week to lap up new renminbi-denominated debt.
To help curb aggressive appreciation expectations and reduce capital inflows into China, the People’s Bank of China has set a weaker onshore renminbi CNY exchange rate fixing against the US dollar over the last two weeks.
As...
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