Chinese Yuan … decline continuing?

Per Bloomberg.com a couple hours ago:

China’s one-year interest-rate swaps completed the biggest weekly drop in four months after the central bank cut borrowing costs and stopped draining funds in open-market operations.

The People’s Bank of China reduced its benchmark rates for the first time since 2012 a week ago, supporting growth in an economy set for the slowest full-year expansion in two decades. Yesterday’s auction window was the first since July that the monetary authority didn’t offer repurchase agreements at, and maturing contracts added a net 35 billion yuan ($5.7 billion) to the financial system this week, the most since August.

 

Chinese Yuan Pattern Complete

Chinese Yuan Pattern Complete

watch this … closely.

4 Comments on “Chinese Yuan … decline continuing?

    • too much turkey… YOU are correct. Sorry … probably too much red also. either way, an advance from in/around here is one of those not talked about BUT very big deals – IMHumbleO. THANK you for correcting me … rock on, ok?

  1. Was the turkey basted in Jack Daniels?

    Phew. I’ve been commenting on Yuan weakening for months and I thought I might have been wrong for months. Chinese following Japanese in debasing. Exporting deflation.

    NB Looks like JPY may be bottoming here for a while…

    • No JD … plenty of red wine. 🙂 Very nice pattern appearing on the NK225. a “3 drives to a top.” Will post … great weekend to you!

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