09/01/17

Yuan Is Crashing (Again) [feedly]



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Yuan Is Crashing (Again)
// Zero Hedge

The volatility in the Chinese currency has gone from the sublime to the ridiculous. After exploding 21 handles stronger in the biggest PBOC-engineered short-squeeze in history - erasing the entire post-election sell-off - offshore Yuan is now collapsing once again, down 350 pips tonight (and over 10 big figures from Thursday's highs). While interbank rates have calmed down, the rush to exit the currency has not...

The last two days are the biggest drop in offshore Yuan since Aug 2015's devaluation... as PBOC weakens its fix by the most sine June 2016.

 

Pushing historical volatility to ....

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