T. Rowe Price is betting on a pullback in the yuan, arguing that it looks “expensive” against a basket of currencies from China’s major trading partners.
The asset manager turned underweight on the yuan relative to higher-yielding frontier currencies in its Diversified Income Bond Strategy this month, according to Vincent Chung, the co-manager for the product. T. Rowe Price manages about $1.89 trillion in assets globally.
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