Offshore Bets Against Yuan Gain Momentum
Spread between onshore rate and more market-sensitive offshore rate grew to its widest level
In a recent article written by Carolyn Cui and Anjani Trivedi from The Wall Street Journal, Cynthia Wong, Head of Emerging Asia trading in Hong Kong and Singapore at Societe Generale, described the one-way flow in the currency market and the overall confidence of investors.
“People are losing confidence in the yuan. Positive hopes diminished with the stock-market crash at the beginning of the year.”
Cynthia Wong, Head of Emerging Asia Trading in Hong Kong and Singapore at Société Générale
To read the full article, please visit: www.wsj.com