2014-03-15

Chinese Yuan Can Now Drop 10% In A Week

Just kidding. The central bank still sets the price for the yuan each day.
China widens currency's fluctuation against dollar
The range in which the tightly controlled yuan is allowed to fluctuate against the dollar each day will double in size, though to a still relatively narrow 2 percent.

......The yuan has been trading at about six to the dollar. Analysts say Beijing might allow that to rise to 5.88 to the dollar by mid-2014, a rise of about 2 percent. That would be small by global currency market standards but unusually large for China.
Home prices always go up; Chinese yuan always goes up. Until it goes violently down in the other direction.

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