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Yuan hits critical levels for FX product, could push currency lower

Posted on 20 March 2014

The slide in the yuan to near one-year lows has left it at critical levels for holders of an offshore derivatives product, exposing them to heavy losses that may fuel a further slide in the currency.
The yuan’s 0.8 percent drop in the three days since the central bank widened its daily trading band has rippled into the offshore market where billions of dollars of leveraged bets were sold to Chinese companies………………………………………..Full Article: Source


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