The yuan opened lower on Monday following after the central bank doubled its trading band, and analysts say it will continue to weaken this year.
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The slide in the Chinese yuan to a seven-month low versus the dollar this week may be a precursor to the next big change in Beijingâ??s currency policy.
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For a currency that is controlled by the state and grants few investment options, the renminbi has attracted a large band of suitors. The FT reports.
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After months of the market crying wolf that China was about to widen the yuan's trading band to let the currency appreciate more, conditions for such a move appear to be falling into place, only now the result may actually be depreciation.
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