With the US waking up excited about a possible 4 handle for GDP growth, China is ending on a dismal note as offshore Yuan plunges to fresh 13-month lows – the 7th weekly drop in a row.
China’s equity market bounce on Tuesday (National Team?) has given way and CHINEXT (China’s ‘nasdaq’) ended the week red…
But the big moves are in the currency, as a midweek dead-cat-bounce has ended in carnage as offshore Yuan plunged…
This is a new 13-month low for the Chinese currency…
Is China ‘retaliating’ or has it lost control?
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