A free-floating yuan is looking a bit more likely

HONG KONG (Jan 12): As China’s yuan swings back into the global spotlight, it might seem like an odd time for authorities in Beijing to loosen their grip on the tightly-managed currency.

Yet for a growing number of analysts and investors, the prospect of a freely floating yuan -- a Chinese exchange rate wholly determined by market forces -- is no longer a distant possibility. Advocates include a government-backed researcher and a former central bank adviser, while bond-market powerhouse Pacific Investment Management Co. says the chances of a free float are rising.

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