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The pound isn't the only one going to get pounded.

Eurodollar University

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The P B O C Deposit Programme Targeting Speculators

By early morning trading and bajing time on monday, c and y was down as low as seven 18 to a so big sharp currency move in the chinese yan. And if you didn't, and if you were only thinking that maybe something's not right, then the p b o c all but confirmed it with theirimplementation of a deposit programme which is really targeting speculators. So what the chinese are doing is basically confirming for us that it's not their intent to have c and y fall. In fact, they're trying to arrest or, at least limit the downside to their currency. As we saw again, what would the british pound on mon

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