Yuan Set to Weaken to 7.4 Per Dollar on Slow Recovery, BofA Says

(Bloomberg) — China’s yuan looks vulnerable to another round of losses in coming months as the delayed impact of official efforts to boost growth means data will stay weak for some time, according to Bank of America.

The offshore yuan may slide to a new record-low of 7.40 per dollar by the end of September as Chinese data will remain disappointing until at least then, said Adarsh Sinha, head of Group-of-10 foreign-exchange research at the bank in Hong Kong.