According to this, the dovish fed talks were beneficial to the Chinese as the CNY gained value while the USD lost.
But why is this good? Wouldn't the Chinese want the Yuan to devalue in order to maintain the exports up. And I thought the CNY was pegged to the dollar, is this still true? Shouldn't they move together? Here we are seeing the CNY gain value while USD dropping. How does the fixing work?
If anyone could help provide an explanation to this it would be helpful.
Thanks!
Submitted March 31, 2016 at 10:52AM by theAztec11 http://ift.tt/1RMWuDH
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