"It will have further depreciation pressures because of issues such as renminbi offloading and a competitive economy." - Billy Hii, Chief Investment Officer of Bill & Morrisons.
Our Chief Investment Officer, Billy Hii was invited to join the Edge Weekly to share his thoughts on the safe havens. He says the slowing economic growth and massive fund outflows will weigh on the currency in 2016. “As we believe the task of holding the renminbi stable will not be sustainable, the Chinese government will eventually allow a gradual devaluation of its currency. This will further aggravate the ‘currency war’ and lead to other emerging market currencies falling further.” He adds that, “[China] has started the first cycle [of devaluing its currency], and knowing the Chinese government, whatever they want to do, they will deliver.”
Full coverage of the session here, http://www.theedgemarkets.com/article/are-safe-havens-still-safe-pt-1