- "The decision made by the People's Bank of China to adopt a basket of currencies again has been accompanied by a slight depreciation of the dollar against the RMB. We show that the targeting of the RMB against a currency basket will not automatically lead to an appreciation of the RMB. On the contrary, the Chinese yuan could very well depreciate against the dollar in the event of a sharp depreciation of the euro against the greenback!"
Natixis Special Report 20100624
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