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"The era of a predictable and steady RMB appreciation is at an end," writes UBS' Tao Wang,...

"The era of a predictable and steady RMB appreciation is at an end," writes UBS' Tao Wang, noting the sharp drop in China's trade surplus and the likelihood it isn't about to bounce back. This doesn't mean the yuan is about to fall in value, but "it's difficult to argue (it) is much undervalued anymore."
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