Offshore Yuan Is At 7.0371

I tend to wonder if you guys like spring rolls. I am having a craving, because apparently the yuan rising above 7 is a big deal. I have seen this mentioned before.

So f-ing what? It MUST be a psycho level?
 
The internet is blowing up... Everyone talking about this

https://www.bloomberg.com/news/arti...?utm_source=google&utm_medium=bd&cmpId=google

https://www.reuters.com/article/us-...en-past-7-to-the-dollar-sources-idUSKCN1SN0NT

China’s central bank will use foreign exchange intervention and monetary policy tools to stop the yuan weakening past the key 7-per-dollar level in the near-term, three people familiar with the central bank’s thinking said.

“At present, rest assured they will certainly not let it break 7,” a source told Reuters.

A defense of the 7 level could help boost confidence in the currency and soothe investor fears about a sharp depreciation in the yuan, or renminbi, even as souring trade relations with Washington make competitive devaluation a compelling option for Beijing.
 
Overnight said:
I tend to wonder if you guys like spring rolls. I am having a craving, because apparently the yuan rising above 7 is a big deal. I have seen this mentioned before.

So f-ing what? It MUST be a psycho level?
More...

All those USD denominated loans, they ain't getting paid back at these levels... They weren't getting paid back before, but now it's guaranteed mass capital flight from china
 
maxinger said:
which exchange do you use to trade yuan?
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I don't trade Forex but I keep my eyes on overall markets, especially Asia at the moment... The eye of the storm maybe in Asia and not in EU after all... The derivatives in EU Banking will unleash the fury, but Asia might be starting it

Huge Protest preparing in HK, china likely sending in the goons this week
 
10 YR at 1.80!!! US Futures just got smoked, Asia ugly as fuck... PPT better be ready, it's gonna be one hell of a week

Yuan back at 7.06, they panic defended... Let's see if they let it sit over 7, what a night so far... Went for a run, preparing a J and landmines everywhere
 
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