2012-07-13

Chinese yuan slides

Chinese GDP numbers are out and the bulls see positive signs in the data. If the bulls are right, China is going to inflate its way out of the economic doldrums, possibly reigniting the housing bubble.

One-year non-deliverable forward contacts have the yuan at 6.42. The yuan closed at 6.3789 per U.S. dollar; the fixing was 6.3247.

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