The 12-month (notional) forward rate for the yuan is currently betting on a 5.5% revaluation of the currency over the next year.

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There is chatter about a revaluation of China's currency soon, but anyone expecting a big shift is likely to be disappointed.

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As China's central banker, Mr Zhou is likely to face growing calls from Japan and the United States for a revaluation of China's currency, the Yuan, to reflect the strength of its fast-growing economy.

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In addition, the CEA has indicated that currency markets will play a major role in the report Monday, but don't expect it to push for a revaluation of China's currency, which many believed to be undervalued, thus contributing to the U.S. trade deficit.

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Kim Kyong Hui has held a series of positions in economic ministries and agencies and, before a revaluation of the country's currency in 2009, published articles about the need for the government to curtail market-oriented activity.

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China's capital controls are porous, and investors all over Asia are betting on a currency revaluation by buying property in Shanghai or Beijing or putting their money into yuan deposits to take advantage of interest rates higher than the paltry level available in America.

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