Well this makes total sense.According to wire reports, via ForexLive, Angela Merkel is set to apply the pressure on the China to revalue the yuan at a meeting next week.
Of course she has to do that. German manufacturing growth (we learned this morning) is sputtering out, and Europe is rapidly losing the global currency devaluation race, which hurts export-happy Germany.
Adding to the tension, China’s Wen is going to Greece to express its full support for the country. That’s more than any one of Greece’s fellow EU-mates have offered.
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