Who's Ready for Yuan Devaluation?

I hate having to call it yuan devaluation, but that's what the mainstream idiots will call it when China gives up and lets the currency drop to a more natural level. What's been going on for the past decade is yuan stabilization and yuan overvaluation.

Reuters: China's state banks seen acquiring dollars in swaps market to stabilise yuan

China's state banks stepped up their intervention to defend a weakening yuan on Monday, with banking sources telling Reuters these banks sold a high volume of U.S. dollars and used a combination of swaps and spot trades.

I say it every time and I will say it again: if the dollar drops then no worries, the pressure will be alleviated. If the dollar continues rising...blatant intervention is the last step before letting the yuan reprice.