China to widen RMB trading band again before end-2012

Woon Khien Chia at RBS
Woon Khien Chia, Royal Bank of Scotland

The People's Bank of China (PBOC) will further widen the USD/CNY daily trading band beyond its current 1% limit before the end of 2012, according to Woon Khien Chia, head of Asia local markets strategy at Royal Bank of Scotland (RBS). The traded band for the renminbi versus US dollar currency has been doubled to 1% since April 16 this year, and Chia, speaking at the FX Week Asia conference in Singapore last week, was bullish about a further widening being imminent. "I've given up my bet about