| The Chinese rate cut over the weekend is, ostensibly aimed at shoring up “fundamental trends in growth, inflation and employment.” But like other central banks around the world the PBOC has another, unstated, goal in its recent RRR and rate cuts.
That goal is a continued weakening of the Renminbi. Having bottomed around 6.1076 just before the first PBOC cut last November the USDCNY rate is back at 6.2686 (higher means Chinese Renmimbi weaker)...............................................Full Article: Source
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