The Renminbeatdown

Is the PBoC in control? We're about to find out.

Last year I posted Breaking 7

Six long years ago I posted a think piece, Chinese Yuan Could Devalue 50% Or More. It wasn't a target, but a discussion of the potential for a declining yuan when all but small cadre of deflationists and China bears were focused on yuan strength.

Central bank chief Yi Gang is confident about the yuan. The headline below at CNStock.com, Shanghai Security News' website, says:

Special topic | Central Bank Discusses Exchange Rate Twice in One Day! Yi Gang: I am confident that RMB will continue to be a strong currency!

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