Offshore Yuan Drops as PBOC Cuts Fix, Pimco Warns of 7% Decline

``"If the Fed raises interest rates in April, the dollar will rebound sharply and pressure the yuan weaker," said Gao Qi, a Hong Kong-based currency strategist at Scotiabank, who sees a June move as more likely. "We expect the yuan to depreciate modestly to 6.7 against the greenback by the end of this year" as capital leaves, the economy slows and the dollar advances.''