CNY (RMB) 02 (Feb 16 - Dec 25)

[behappyalways]

Unwind Of China's Great Carry Trade Could Unleash $20 Billion In Monthly FX Sales
https://www.zerohedge.com/markets/unwin ... y-fx-sales

[winston]

China may let yuan slide up to 15pc to counter Trump

by June Chen

JPM is penciling in an average effective tariff of 60 percent on China, up from the current 20 percent.

That could potentially hurt 2025 economic prospects, slowing growth to 3.9 percent from 4.8 percent in 2024.

Source: Bloomberg

https://www.thestandard.com.hk/section- ... nter-Trump

[winston]

China mulling weaker yuan amid tariff threat

The state-owned Financial News later said there is a solid foundation for the yuan to stay fundamentally stable with increasing chances that the US dollar will depreciate.

Trump has said he plans to impose a 10 percent universal import tariff, and a 60 percent tariff on Chinese imports into the United States.

Allowing the yuan to depreciate next year would deviate from the usual practice of keeping the foreign exchange rate stable. The tightly managed yuan is allowed to move two percent on either side of a daily midpoint fixed by the central bank.

Source: The Standard

https://www.thestandard.com.hk/section- ... iff-threat

[behappyalways]

China FX Outflows Soar As Beijing Prepares For Next Currency Devaluation, Priming Next Bitcoin Surge
https://www.zerohedge.com/crypto/china- ... coin-surge

[behappyalways]

"PBOC announced plans to sell 60 billion yuan, the equivalent of $8.2 billion, of 6-month central bank bills in HK this month, a record amount. Doing so will drain offshore yuan liquidity in Hong Kong and make it harder for traders to short the currency."
https://x.com/shehzadhqazi/status/1877458133959798862

[behappyalways]

The RMB has fallen to a 15-month low!
Trump is watching closely.
Will the Chinese central bank continue to devalue the RMB to resist tariffs?

人民幣貶至15個月新低! 川普虎視眈眈 大陸人行放手貶值抗關稅?｜TVBS新聞 ‪@TVBSNEWS02

https://m.youtube.com/watch?v=Bq5GcPMuDy0

[winston]

This Hong Kong newspaper seller is preparing for a yuan crash

The yuan has lost more than 12 per cent of its value against the HKD over the past three years, putting it on course to hit parity for the first time since 2007.

The decline has hurt spending by mainland Chinese tourists, encouraged locals to cross the border for shopping trips and forced consumers and businesses across the city to adjust.

The yuan has been dragged lower by a fragile Chinese economy facing deflationary pressure, capital outflows and evaporating bond yields.

Source: Bloomberg

https://www.businesstimes.com.sg/compan ... yuan-crash