Our Market & Economic Insights - Shock waves from the rumbling Renminbi
Wealth Know How
China sent shock waves through global commodity, interest rate and stock markets last week when it undertook the biggest devaluation of its currency in almost two decades. However, the devaluation was actually not that big – with the People’s Bank of China (PBoC) raising the daily ‘fix’ for Dollar/Renminbi by only 1.9 per cent. So why did the market react so strongly? Watch Now (VIEW LINK)
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