Albert Edwards: China’s Yuan Could Fall To 9.1 As Growth Slows

While the world has been watching Brexit and the British pound’s meltdown, China’s currency devaluation has gone relatively unnoticed, although Société Générale’s Albert Edwards has been keeping a watchful eye on developments within China. China’s yuan devaluation and the further slowdown in the country’s economy is the topic of Edwards’ weekly Global Strategy research note this week, specifically about the yuan and has some potential good news for hedge funds. The Chinese have accelerated the renminbi devaluation, taking it to six-year lows versus the US dollar this week, which is a much more important story for the global economy than…