Monday, June 21, 2010

What Happened To The Peg China?

So the stocks rallied. Why? Because of China Yuan reform strategy...

But as highlighted in my link:

And guess what... the headfake was true as China threw the screwball by keeping the Yuan flat!

On CNBC: China Keeps Yuan Flat Despite Flexibility Pledge

  • China told the rest of the world on Friday not to meddle with the way it manages the yuan, calling the exchange rate a sovereign matter for it alone to decide.


And as expected... Global rally cools after China leaves yuan flat


Life is fun eh?