A pedestrian along the Bund across from commercial buildings in Pudong's Lujiazui Financial District in Shanghai, China, on August 14, 2024. Photographer: Qilai Shen/Bloomberg.
Chinese companies may be enticed to sell a $1 trillion pile of dollar-denominated assets as the United States cuts interest rates, a move which could strengthen the yuan by up to 10 percent, according to Stephen Jen. The chief executive of Eurizon SLJ Capital said currency is now the biggest risk that's not priced in properly across markets—and the yuan may play an outsized role.
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