Another Yuan Devaluation Already? - Entrepreneur Generations

Global Economic Analysis - Entrepreneur Generations - I was intrigued by a Zerhedge post this evening entitled Gold Jumps As China Devalues Yuan By Most In 2 Months, "Boosts Reforms" Of Corporate Bond Bubble.

OK - Gold is up a bit, but I cannot find any reference to China devaluing the Yuan again.

ZH made this claim "The Yuan has been fixed stronger for 8 straight days... but tonight PBOC devalues Yuan by 177pips - the most in 2 months," accompanied with this chart.



I cannot find a reference to "China weakens yuan most since August 13" other than ZH. I assume Bloomberg made that statement as ZH claims "Charts: Bloomberg".

Here is a bit of perspective on the "devaluation" claim.

USD vs Yuan



Is that a devaluation, or is that a reversal of a correction to a previous devaluation?

The answer of course is the latter.

Mike "Mish" Shedlock

Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://ift.tt/xbXsM8 to learn more about wealth management and capital preservation strategies of Sitka Pacific.

from Mish's Global Economic Trend Analysis http://ift.tt/1ZBOx8K Another Yuan Devaluation Already? - Entrepreneur Generations

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