The Financial Times (gated) take on the big move in the yuan fix from the People’s Bank of China this morning in Beijing
(USD/CNY fixed more than a big figure higher, i.e. yuan much weaker)
- Japanese stocks ... vulnerable to any immediate bumps and nasties. Today, the follow-up infection is the renminbi
- Yen started to appreciate ... has subsequently seen Japanese shares turn south
I posted earlier on China opening the taps (also via the FT): China's record expansion of credit is a clear indicator of policy priorities
To put yesterday's huge surge in lending data from China in context, check this out:
That's the 'new loans' data - the jump is mind-boggling ...
