Foreign exchange traders are pricing in the likelihood of a more rapid strengthening of the Chinese renminbi following an easing of the tight restrictions governing the currency.

Currency futures contracts were implying on Thursday that traders believe the Chinese currency will rise 2.5 per cent to Rmb7.86 to the dollar in six months’ time. This is the most bullish the market has been since July, when the renminbi was revalued by 2.1 per cent to Rmb8.11 to the dollar.