On CNBC they held a segment asking which country was the biggest currency manipulator: The US or China.
Here’s the answer: it’s China.
Yes, the expansionary Fed policy is dollar negative, but here’s a hint. CHINESE CURRENCY NEVER MOVES.
Oh, and of course, you can’t keep your currency fixed to a big-time money printer like the US unless you’re printing like crazy yourself.
Here’s a chart of CNYUSD.
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