China Hits Yuan Bears By Sending Overnight Rates To 80%Rupert Hargreaves
China is once again trying to crush those speculators who are attempting to short the yuan.
Repeating a similar tactic used last year, last night the offshore yuan deposit rate exploded 31.5% higher to 45% freezing interbank liquidity and crushing yuan shorts by forcing short holding costs through the roof.
- SocGen: Here’s Why China’s 6.5% Growth Is Unsustainable
- China Introduces Yet . . .
This content is exclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here
If you are subscribed and having an account error please clear cache and then cookies if that does not work email email@example.com and we will get back to you as quick as humanly possible