China Sends Yellen Another Warning, Fixes Yuan At Lowest In Over Five years

Jon Alternative Media, Blogosphere, Crypto Currency, Economy, Fiscal Policies

We got an early hint of what the PBOC would do tonight on Friday and Saturday, when as we reported, an unprecedented volume burst of bitcoin buying out of China, sent the digital currency soaring to the highest level since 2014.

To be sure, we had expected sailing would not be smooth for the FX market, when on Friday afternoon, after Yellen’s’ unexpectedly hawkish comments at Harvard, which sent the USD surging, we predicted a stormy sea for the Monday Yuan fix:
CNY will be interesting on Sunday night
– zerohedge (@zerohedge) May 27, 2016

This post was published at Zero Hedge on 05/29/2016 –.