Discussion on the low premiums and potential returns of USDCNH, the high complacency and positioning among FX and FX options participants, and the impact of China's shadow banking industry on the market. The memo also highlights the role of Asian corporates in selling options and the potential market movements if USDCNH retraces higher.
doj/DataSet10/EFTA01446808.pdf
{"key_people":["Vinit Sahni","Nav Gupta","Vanshree Verma","Nam Gupta"],"document_type":"correspondence","key_locations":["London","Shanghai"],"document_subtype":"memo","key_organizations":["KCP Capital Markets","Deutsche Bank AG","Deutsche Asset & Wealth Management"]}