Yuan's Forecasters Getting It Wrong as China Jolts Markets
Analysts revise predictions after currency’s sudden surge
Lack of clarity makes policy hard to understand: strategist
China’s yuan policy has blindsided forecasters once again.
The sudden surge in the last four days -- for the onshore exchange rate, it’s been the steepest gain in more than four months -- pushed the currency beyond levels predicted by even the most optimistic analysts. Market watchers were caught off guard earlier in the year as well, when the yuan confounded expectations by strengthening in the first quarter.