The People’s Bank of China uses its massive reserves to buy or sell the yuan to maintain a desired exchange rate. It’s been pegged to the U.S. dollar in some way for decades.
So, a strong dollar has often meant a strong yuan.
When China’s stock market began to falter in June, China’s smart money took the hint and started for the exits.
The Dow plunged 1,089 points Monday on the open, prompting investors to ask us, Will the stock market shut down today?
It shouldn’t come as any surprise that U.S. stocks went into free-fall mode last week.
China fired a shot heard ’round the world Aug. 11, stoking fears of what could become the ugliest of all currency wars. In a surprise move, the country massively devalued the yuan 2% – its biggest one-day devaluation in 20 years.
The Greece bailout crisis grew
Will Biden run for president? Several sources in the Democratic Party have said that the vice president is seriously considering throwing his hat into the ring.
There are advantages and disadvantages for Biden should he run, and pundits and other politicians have been quick to weigh in.
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There’s a bombshell new development in the Iran nuclear deal.
The Associated Press reported that Iran will be permitted to use its own experts to inspect Parchin, one of the country’s most suspicious testing facilities.