A Stunned Wall Street Reacts To China’s “Bear-Crushing” Yuan Carnage — peoples trust toronto

As we observed earlier, China’s currency gained 0.5% in offshore market to 6.8275 vs dollar, earlier surging as high as 6.78, extending its 2-day advance to 2%, the most on record, driven by a direct attack by the PBOC on shorts, whom it crushed overnight when it pushed the overnight offshore Yuan deposit rate to […]

via A Stunned Wall Street Reacts To China’s “Bear-Crushing” Yuan Carnage — peoples trust toronto

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