Yuan Slides to New Low Versus Dollar, EM Currencies Weakness Begins Anew

So much for a slow rise into January. This may all be a "buy the rumor" move in various assets ahead of the Federal Reserve meeting next week, but the break of lows/highs in various assets signals the direction of the intermediate-term next move.

M2 money supply increased nearly 1% in November, for a 13.7% annualized rate. Money creation outstripped reserves.

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