ANZ warns on RMB volatility

Global financial markets head urges caution


Investors who are long renminbi (RMB) should brace themselves for changing patterns in the currency's behaviour, warns ANZ's global head of financial markets research, Richard Yetsenga, adding that the Australia-based bank has concerns about China's gross external liabilities.

"For those with RMB exposure, we would be cautious about assuming the currency is likely to continue to behave the way it has in the past – that it will have an appreciation bias, trade in narrow ranges and adjust smoothly

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