May 5, 2005

Stephen Jen's Opinion on the Yuan

From Bloomberg:

``People should take advantage of these levels'' and sell the won and Taiwan dollar, said Jen, head of global currency research in London at Morgan Stanley. ``This is not the time to put on the China revaluation trade. China is not ready'' and probably won't revalue the yuan before the end of June, he said.
Investors should sell the Korean won until it weakens to about 1,015 per dollar from 999.80 at 3 p.m. in Seoul, said Jen. The Taiwan dollar could drop to NT$32 versus the U.S. currency, from NT$31.19 at 4 p.m. in Taipei, he said.

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