China “playing a dangerous game” with RMB

China is playing a dangerous game allowing its currency to be subject to so much speculation at a time of heightened volatility in global markets, argues Mark Matthews, Asia head of research at Swiss private bank Julius Baer. Uncertainty about the renminbi was a key driver of the 7% fall in mainland stocks on Monday, he said. China appears to be prioritising the management of interest rates and allowing market forces to influence the renminbi, he suggested, which is “sensible from…