The yuan’s relentless advance against the dollar is raising expectations that it could hit levels last seen before its shock devaluation in 2015.
The near 1% rally this week brought it closer to the most bullish calls on Wall Street and drew a reminder from the People’s Bank of China late Thursday that authorities are closely watching the advance. Strategists at Citic Securities Co. and Scotiabank expect the currency to strengthen to 6.2 against the dollar in onshore markets from the current 6.3840.
