Outlook for Asian FX in 2016 looks bright
Analysts see a 50% chance of offshore and onshore renminbi convergence
When China's central bank announced last week that it would begin measuring the renminbi against a trade-weighted basket, the currency slipped to a four-year low against the US dollar. It was a fitting end to a year marked by historic market reforms and concomitant market turmoil.
China opened up its interbank bond and FX markets to institutional investors, liberalised interest rates and allowed market forces to dictate its exchange rate to a greater extent than ever before. Meanwhile, growth
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