China Just Murdered The Yuan Bears

China Just Murdered The Yuan Bears

The PBoC has spoken and markets, at least for the time being, have listened. Coming off a week in which China decided that because i) markets are "unreal" and are generally populated by traders who often employ "irrational, herding actions," and ii) those shady smart asses at Moody's decided to downgrade the country for the first time since 1989 right in the middle of Beijing's effort to deleverage the financial system, they were going to add a "counter-cyclical adjustment factor" to the yuan
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One thought on “China Just Murdered The Yuan Bears

  1. Yes kiddies, central banks cannot be trusted to be honest with regards to their fx policies or operations. Even A Greenspan (aka ‘the greatest central banker in history’) said this so it cannot be doubted.
    It should be noted that it is not necessarily the central banks that call the shots (push comes to shove) in the exchange rate arena. In the US it is the Treasury Dept. In other countries it might be the Trade Ministry. The markets unfortunately might be oblivious to this fine point.

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