Yuan reval likely by Sept: economists

Economist are now predicting that the Chinese government are likely to revalue the yuan by September, increasing its value 5-10% and widening trading band, the South China Morning Post reported, citing analysts from JP Morgan and ING. The flow of hot money has decreased, and a revaluation would not reward speculators, Ben Simpfendorfer of JP Morgan told the SCMP. Beijing has been fighting international pressure, particularly from the US, to let the yuan rise, but the government maintains that its ultimate goal is a free-floating currency.