WTI futures curve moved further in contango, now joined by another major milestone for the dollar bull-ying its way across Asia. China's yuan has slumped substantially, today falling well below 7 to the dollar. CNY wasn't the only one caught up in the goring, though. The dollar bull's "sudden" return is a particularly bad omen especially now.
Eurodollar University's Money & Macro Analysis
Remarks by Governor Ben S. Bernanke
Before the National Economists Club, Washington, D.C.
https://www.federalreserve.gov/BOARDDOCS/Speeches/2002/20021121/default.htm
Bloomberg: Yuan Slides Past Seven in New Warning Sign for China’s Economy
https://www.bloomberg.com/news/articles/2023-05-17/yuan-weakens-toward-key-psychological-level-amid-data-misses
Reuters: Indian central bank likely sold dollars to limit rupee's decline, traders say
https://www.reuters.com/markets/currencies/indian-cenbank-likely-sold-dollars-limit-rupees-decline-traders-2023-05-18/
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