根据摩根大通的说法，官方可能会持续提高利率和法定准备金，并通过卖美元来吸纳现金，同时使允许更多的利润用人民币来代替美元。

Officials may keep raising interest rates and banks' reserve requirements, sell bills to soak up cash and allow more gains by the yuan against the dollar, according to JPMorgan.

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摩根·斯坦利只用了4个模型来评估人民币的公平价值，其中间估值显示人民币相对于美元的低估水平只有1%——这可不是国会想要的答案。

Morgan Stanley USES only four models to estimate the yuan's fair value, of which the median valuation suggests it is only 1% undervalued against the dollar-not the answer Congress wants.

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运用一个更复杂的模型，摩根斯·坦里的Stephen Jen认为日元对美元低估了12%，而人民币则仅是7%。

Using a more sophisticated model, Stephen Jen, of Morgan Stanley, reckons that the yen is 12% undervalued against the dollar, whereas the yuan is only 7% too weak.

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