- China’s central bank governor Yi Gang on Saturday promised to keep the yuan currency’s value "broadly stable" at IMF and World Bank annual meetings in Bali.
- But U.S. Treasury Secretary Steven Mnuchin reiterated concerns that a major drop in the yuan's value this year against the dollar could be part of an effort to gain a trade advantage for Chinese exports or to offset the impact of U.S. tariffs.
- The yuan has fallen more than 8% vs. the greenback since the end of April to about 6.91 on Friday, close to the psychologically important 7.0 level not seen in a decade.
- ETFs: FXI, KWEB, ASHR, YINN, CAF, EWH, CQQQ, YANG, MCHI, GXC, CYB, FXP, PGJ, CN, KBA, TAO, CHIQ, HAO-OLD, CHIX, TDF, QQQC, CNY, PEK, CHN, CWEB, CXSE, CHAU, XPP, CNXT, ASHS, AFTY, CHAD, FCA, YAO, YXI, FXCH, ECNS, CHIM, CHII, CHIE, KFYP, EWHS, FCHI, OBOR, ASHX, CNYA, FHK, HAHA, XINA, CNHX, KGRN, FLCH, FLHK, WCHN
- Now read: How Close Are The Clouds?
Original article