-
Forget Brexit, Watch China And The Renminbi
As the world’s attention has been fixed on Brexit and meltdown of the European financial system, China has been quietly devaluing its currency without causing too much turbulence in the financial markets as it did the last time policymakers attempted such a strategy. On Wednesday the yuan fell to a fresh five-and-a-half-year low against the dollar extending its slide to a fifth straight session, after China’s central bank sharply weakened its official guidance rate as the dollar surged. The yuan traded as low as 6.6955 against the dollar at one point, closing in on the psychologically important 6.7 level. ... (full story)
- Comments
- Subscribe
- Comment #1
- Quote
- Jul 7, 2016 10:51pm Jul 7, 2016 10:51pm
- Guest
- | IP XXX.XX.205.150
- Comment #2
- Quote
- Jul 7, 2016 11:27pm Jul 7, 2016 11:27pm
- frx_trader
- Joined Jun 2012 | Status: Analyst | 3129 Comments
- Comment #3
- Quote
- Jul 7, 2016 11:42pm Jul 7, 2016 11:42pm
- ChinaTraderz
- | Joined Dec 2015 | Status: Sloth (Folivora) | 323 Comments
- Comment #4
- Quote
- Jul 8, 2016 2:03am Jul 8, 2016 2:03am
- iwishtowin
- | Joined Dec 2012 | Status: Member | 170 Comments