Demystifying The Chinese Yuan

China Hits Yuan Bears By Sending Overnight Rates To 80%

Yuan Bears

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.

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