Tuesday, August 11, 2015

China Devalues the Yuan

China has devalued the yuan.

This is a developing story, please return to this post for updates.

UPDATE 1

The devaluation of the yuan has led to its biggest one day drop in more than two decades.

UPDATE 2

BTW Trump is going to have a field day with this, given his view that trade is a nationalistic battle.

UPDATE 3

What it really means is cheaper prices for US consumers. Thank you, China.