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12-01-2015, 10:38 AM
Now that the IMF has endorsed the yuan as a reserve currency (joining the dollar, euro, pound, and yen), I'm setting an over/under of 3 weeks for it's devaluation.
The yuan looks moderately overvalued, particularly against other Asian currencies, and China has delayed taking action in anticipation of this move. This will be good news for Chinese growth when it happens.
The yuan looks moderately overvalued, particularly against other Asian currencies, and China has delayed taking action in anticipation of this move. This will be good news for Chinese growth when it happens.