16/12/16

China Devalues Yuan To Weakest Fix Since May 2008 [feedly]



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China Devalues Yuan To Weakest Fix Since May 2008
// Zero Hedge

Following last night's bond bloodbath, The Fed fallout continues in China as The PBOC has devalued the official Yuan fix the most since Brexit to its weakest level since May 2008, breaking above 6.95/USD. Since the "one-off" devaluation in Aug 2015, the Chinese currency has now weakened almost 14% against the dollar.

While the broad Renminbi basket has been "stable" against China's global trading partners for 3 months...

 

It appears the .....

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