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Yuan Devaluation #2! Other currencies respond

heezsafe
in Fund Discussions
China's state-owned mouthpiece news agency, Xinhua, explains: "China is not waging a currency war; merely fixing a discrepancy."
http://www.zerohedge.com/news/2015-08-11/yuan-collapses-stocks-slide-credit-risk-hits-2-year-high-after-china-devalues-curren

There will be winners, and there will be losers.
http://www.bloomberg.com/news/articles/2015-08-11/more-losers-than-winners-in-china-devaluation-as-bmw-lvmh-slump

And the Asian currencies trade down (because they have to):
image

Comments

  • [Deleted User]
    The user and all related content has been deleted.
  • Old_JoeOld_Joe
    I don't think so. There's nothing going on here that is a real surprise. And today the Chinese actually supported the yuan, so it looks like they are trying to walk a tightrope, not cut it.
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