China Fires First Warning Shot At Trump
China's warning shot consists of losing control of their currency. The Yuan just jumped the official overnight peg...
Rewind, to the last time China clusterfucked global markets, not to be confused with the first time...
"The PBOC is testing how far it can let the yuan depreciate without setting off a sharp selloff like the one that followed the yuan’s surprise devaluation on Aug. 11, people close to the central bank have said."
It took them a couple more weeks to drop the S&P 200 points (10%)...
This past Thursday:
"The Chinese yuan slumped to the lowest levels since September 2016 on Thursday, as Trump’s presidency raised concerns over Trump’s intentions with regard to trade relationship with China. The new US president-elect Trump always targeted China for currency manipulation and has threatened tariffs of up to 45% on the country’s imports."
The Yuan just broke the overnight peg...
USDCNY 30 day rate of change:
