The volatility in the Chinese currency has gone from the sublime to the ridiculous. After exploding 21 handles stronger in the biggest PBOC-engineered short-squeeze in history – erasing the entire post-election sell-off – offshore Yuan is now collapsing once again, down 350 pips tonight (and over 10 big figures from Thursday’s highs). While interbank rates have calmed down, the rush to exit the currency has not…
This post was published at Zero Hedge on Jan 8, 2017.
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