Monday, April 11, 2022

The Chinese Yuan is Flirting With a Breakdown

Aren't we all.

But do stick around, you'll want to see how everything turns out.

From TradingView (up is weaker i.e. more Yuan to buy a dollar), April 11:

TradingView Chart

If it breaks through the current level (big if, it is the Bank of China that picks the level) a very fast 5% weakening, from 6.37 to 6.68 would be the target with a medium-term goal of 7.0 - 7.1.