The Hong Kong government could re-peg the city’s currency to the Chinese renminbi before the end of next year, a packed conference hall was forewarned yesterday.
Peter Redward, head of emerging Asia research at Barclays Capital, made the bold claim at a panel discussion on the likely impact of RMB liberalisation on foreign exchange markets. He also forecast that the renminbi could appreciate by 10% against the US dollar over the next year.
Redward spoke at a seminar on the internationalisation of the renminbi organised in Hong Kong by AsianInvestor and FinanceAsia.
Asked by audience member Charles Han, Hong Kong-based head of FX trading at Newedge Financial, what...