Read the Beforeitsnews.com story here. Advertise at Before It's News here.

By Nunez Report
Contributor profile | More stories

Story Views
Now:
Last hour:
Last 24 hours:
Total:

Chinese Devaluation Extends To 3rd Day, Japan Escalates Currency war

Thursday, August 13, 2015 7:15

% of readers think this story is Fact. Add your two cents.

The “one-off” adjustment has now reached its 3rd day as The PBOC has now devalued the Yuan fix by 4.65% back to July 2011 lows.

The PBOC seeks to reassure…

*CHINA PBOC SAYS YUAN REMAINS STRONG CURRENCY IN LONG-TERM
*PBOC SAYS THERE IS DEMAND FOR DEVALUATION OF YUAN VS USD
*PBOC CHANGE OF YUAN MECHANISM RELATED TO JULY CREDIT: ZHANG
*PBOC SAYS YUAN CHANGE IS BENEFICIAL TO LONG TERM STABILITY
*PBOC SAYS YUAN EXCHANGE RATE ADJUSTMENT ALMOST COMPLETED
*YUAN RATE ADJUSTMENT POSITIVE TO CONFIDENCE IN YUAN: PBOC’S YI
*NEW YUAN MECHANISM `POSITIVE’ TO INTERNATIONALIZATION: PBOC YI
*PBOC SAYS NO BASIS FOR YUAN’S CONSTANT DEVALUATION: ZHANG

Even before this evening’s date with debasement history, Japan felt the need to step up the currency war rhetoric. Following disappointing Machine Orders data, Abe advisors Hamada warned that “Japan can offset Yuan devaluation by monetary easing,” and so the race to the bottom escalates. China has its own problems as BofAML’s leading economic indicator showed “the foundation for a growth recovery is not solid, facing more downward pressure,” and while confusion reigns over why The PBOC would intervene at the close to strengthen the Yuan last night, the reality is the commitment isn’t to a devaluation for China’s exports, but undoubtedly its actions are directed toward trying to keep the wholesale finance interfaces somewhat orderly. Finally, China’s devaluation couldn’t come at a worse time for Argentina - about a quarter of the country’s $33.7 billion of foreign reserves are now denominated in yuan, which suffered its biggest loss since 1994 on Tuesday.

Having devalued the (onshore) Yuan fix by 3.5% in the last 2 days, China did it again… shifting Yuan to 4 year lows

Credit to Zero Hedge

http://nunezreport.blogspot.com/

Source: http://nunezreport.blogspot.com/2015/08/chinese-devaluation-extends-to-3rd-day.html

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

LION'S MANE PRODUCT

Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules

Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.

Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.

Comments

Visits:	1,707,980,582
Stories:	8,449,162