Forex Flash: Managing RMB expectations - HSBC

FXstreet.com (Barcelona) - HSBC analysts have taken a look at RMB´s prospects for the year and see upside ahead but are keen to manage expectations.

They note strong inflow pressure are likely to soften in the rest of Q2, but they expect the RMB to stay resilient. Additionally, the highlight policymaker´s commitment to rebalancing the economy and believe that reforms hold the key for the currency. Overall, they are forecasting an annual appreciation on circa 1.5% in 2013.