Chart: Chinese Yuan/ Renminbi is falling31 May, 2012, 12:57. Posted by Zarathustra
With the macro data from China keep coming on the weak side, and with the European economy in a deep recession, I have suggested last weak that it is now about time to see Chinese Yuan depreciates against the US dollar (but even so, with strong US dollar, the Chinese Yuan would appreciate against the Euro). Indeed, we have already seen Chinese Yuan not moving at all against the US dollar since late last year, and now it is very obvious that Chinese Yuan is falling. Falling fast, reaching 6.37 level.