Visitors Now:
Total Visits:
Total Stories:
Profile image
By silveristhenew (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

China ‘Devalues’ Yuan To Weakest Since Breaking The Peg In 2010

Thursday, November 10, 2016 22:34
% of readers think this story is Fact. Add your two cents.

(Before It's News)

With offshore Yuan tumbling in recent days – echoing the collapse in US Treasury bond prices – the spread to the onshore fix appears to have forced the PBOC’s hand. With a 200 pip cut in the CNY fix tonight, China has all but erased any strength in the Renminbi against the USD since it broke the peg (“enabled more flexibility”) in June 2010.

  • CHINA SETS YUAN FIXING AT 6.8115 VS 6.7885 DAY EARLIER

Given the wakness in the Reniminbi basket, one could argue that the Yuan could be sold against the USD considerably more to catch down to the pressure that other major basket currencies have been under…

With US Treasury market closed tomorrow, one wonders where China’s wrath will fall…

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.