Although we’ve heard it a lot over the past year or two, the voices are getting louder and louder. There now seems to be a distinct possibility that the Chinese yuan will revalue later this month from 3% to 5%. At least those are the noises coming out of China.
The following information comes from Tom Dyson, reporter on The Rude Awakening, young sister publication of our syndicated Daily Reckoning…
“That’s the scuttlebutt from several Chinese traders, CEOs (party connected) and a couple of fund managers,” he responded when pressed for his source moments later. “It makes sense - there is absolutely no sense of urgency over here, but they are seeing some pressure from the threat of tariffs on textiles. It will not be some huge revaluation - 5% would be high - 3% more likely to pacify ‘the West.’ Take it for what it’s worth, if it happens, you will […]