Altcoins News
By Evie Vavasseur
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The yuan just touched 6.90 against the dollar. Currency traders across Asia are scrambling to figure out what comes next as China's central bank keeps quiet about any potential…
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Societe Generale's analysts have been tracking the yuan's slide toward what they're calling a make-or-break level for weeks now. The French bank's currency team thinks crossing 6.
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The People's Bank of China hasn't said a word about intervention plans, leaving traders to guess at Beijing's next move.
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Currency desks in Hong Kong are buzzing with activity as the 6.90 breach becomes reality. Li Wei at HSBC told his team to prepare for wild swings, warning that currency hedges…
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The Federal Reserve's recent rate decisions are adding fuel to the fire, with many traders wondering if Jerome Powell's team anticipated how their moves would pressure the yuan.
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Companies with heavy China exposure are scrambling to adjust their strategies. Apple and Tesla are reportedly reassessing production cost projections as a weaker yuan could mean…
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The Chicago Mercantile Exchange saw yuan futures volume spike 15% on February 11, with open interest climbing as traders position for more volatility.
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Shanghai's financial district is alive with speculation about potential government intervention.
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Goldman Sachs dropped a report February 12 suggesting that breaking 6.90 might actually attract more foreign capital into China.
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European Central Bank President Christine Lagarde jumped into the conversation during a recent interview, saying yuan fluctuations could influence Eurozone monetary policy.
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Tokyo traders aren't happy either. The Nikkei 225 dropped February 11 partly due to yuan concerns, with Nomura Securities' Kenji Tanaka warning about potential hits to Japanese…
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Bank of Japan Governor Haruhiko Kuroda announced a special meeting next week to discuss currency market developments.
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Trading volumes across Asian currency pairs jumped as the yuan hit 6.90, with dealers reporting heavy activity in dollar-yen and dollar-won crosses.
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Commodity markets are also feeling the pressure. A weaker yuan typically means cheaper Chinese exports, which could hurt producers in other countries while benefiting importers…
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The timing couldn't be worse for Beijing, with the National People's Congress meeting scheduled for next month.
The Currency Analytics
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