De Bruijn: China not ready to de-peg yuan

Gartmore head of Asian equities says China is nowhere near ready to end its two-year peg on the dollar

Gartmore’s Jan De Bruijn believes China will not end its currency peg on the dollar within the next few months. The head of Asian equities, who manages the £99.7m Pacific Opportunities and the offshore $21.3m Asia Pacific funds, was reacting to market speculation the Chinese government is preparing loosen the two-year fix on its currency. De Bruijn’s views come after respected economist Professor Nouriel Roubini – known as Dr Doom due to his pessimistic take on the global outlook – suggested the Chinese central bank could let the renminbi  appreciate as soon as Q2 of this year. Rou...