Yuan bears wake from slumber

Strategists forecast a weakened renminbi as country seeks wider global acceptance, reports Bloomberg.

Efforts by China's central bank to signal it will let the yuan strengthen, even as it grapples with a slowing economy, are being lost on currency strategists.

While the People's Bank of China raised the yuan's reference rate to an eight-month high last week, some of the biggest voices in foreign exchange markets said it will decline after policymakers cut interest rates for the first time since 2012.