China’s Stimulus Takes A Backseat To Save The Yuan | Michael Howell
Market Depth
The Refocus on Currency and Trying to Stabilize the Yuan
The yuan is fundamentally a weak currency. It's in I'm not gonna say terminal decline, but it's in trend decline The yuan us dollar cross at some stage will have a ten in front of it. What you're seeing here is a gathering of forces in China to try and control or stem this slide in the yuan as you correctly say There's been efforts in this last week to take about 1.2 trillion yuan out of the money markets. This is a dramatic reversal of what they were doing only ten days ago when they’re actually injected about a trillion yuan into the money markets Trying goose the economy and get growth going up faster That has now been hastily reversed In other words
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