What's happening with the China Currency

[beerbaron]

Anybody knows what happened with Chinese's currency exchange? Is it a response to Trump saying he's raise duties?

 

BeerBaron

[TwoCitiesCapital]

wow...

 

Had no clue it moved that much.

[sleepydragon]

It appears to be google getting the wrong data. Bloomberg and reuters and sources from brokers confirmed google price is wrong. 

[Guest Schwab711]

ICAP is showing this rate on Bloomberg. This is a scary move, if true...

[rb]

Yea that rate is false. But it's not unreasonable for USD/CNY to go to 8 if the Chinese stop supporting/propping up the currency. Of course they could stop doing that, especially if they're pissed off. But then who really knows what the Chinese will do?

[beerbaron]

Yea that rate is false. But it's not unreasonable for USD/CNY to go to 8 if the Chinese stop supporting/propping up the currency. Of course they could stop doing that, especially if they're pissed off. But then who really knows what the Chinese will do?

 

Thanks for the double checking. It goes to say that free data is not 100% right :)

 

If I were the Chinese I would actually do something like that. Let the currency fall for an hour or two and bring it back to the initial level. Would be a  nice little warning shot for president elect.

 

BeerBaron