Yuan May Strengthen Past 7 Per Dollar, Top China Economist Says

The yuan may see further gains past 7 against the dollar, according to a top Chinese economist, as debate grows among market participants over whether Beijing will allow it to appreciate.

Scenarios that could push the yuan higher include US economic weakness, Federal Reserve rate cuts and a broader erosion of confidence in the dollar, said Guan Tao, global chief economist at Bank of China International Securities.