Normal
Summary of today.Market sells off dramatically on China currency manipulation.Market reverses panic and traders dive back in as China sets rate above 7 again.People realise that the Yuan is set against a basket of currencies most of which the US is very much stronger against.Meaning the Yuan has actually been gaining against most currencies.There was not need to panic or believe Trumps ill timed labeling.The US is not the only currency in the world nor is it China's largest trading partner, well, at least whilst Britain remains in the Euro anyway.
Summary of today.
Market sells off dramatically on China currency manipulation.
Market reverses panic and traders dive back in as China sets rate above 7 again.
People realise that the Yuan is set against a basket of currencies most of which the US is very much stronger against.
Meaning the Yuan has actually been gaining against most currencies.
There was not need to panic or believe Trumps ill timed labeling.
The US is not the only currency in the world nor is it China's largest trading partner, well, at least whilst Britain remains in the Euro anyway.
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