China’s Stealth Devaluation Continues Despite Lew Blasting “Unacceptable” FX Practices

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The US Dollar has traded within a relatively “stable” band against the offshore Yuan for much of the last six weeks…

But when compared to the collapse of the Yuan “basket” – as PBOC devalued against the rest of the major trading partners – the ‘stealth’ devaluation is obvious… Continue reading