Asleep At The Wheel: U.S. Shorts Miss Big Trouble In Little China

Right, so the yuan traded like a safe haven this week. We've established that. A high-yielding safe haven backed not only by a sizable trade surplus, but also by a central bank that at least for the time being, is still leaning in the direction of a stronger currency to deter capital flight as opposed to a weaker currency to buoy exports. Is the yuan rally versus the dollar overdone? Probably. And Friday's weaker-than-expected fixing suggests the PBoC is well aware that July's export/import nu

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