Listen now (9 mins) | BIS data shows how China changed the nature of the game
What happens if instead of China devaluing India devalues instead? That's one thing that makes me wary of going long GLD at these levels.
What do you think about markets testing PBOC arsenal? On Friday, we saw Chinese banks swapping Yuan for dollars and PBOC coming out and saying they will curb speculation.
Today USDCNH is back trading at those levels on Friday. Surely Speculators try to get USDCNH to 7.4-7.5 and then maybe we see what action PBOC take?
Interesting that it think the Yuan should strengthen. Are you worried about the many arguments of Yuan devaluation?
Russell - am getting used to your rhetorical style now and always read the final paragraph first (after being triggered by the “🚨180-risk🚨” title!)