He says the CNY is still undervalued and that China must revalue. China has the correct policies in place otherwise, the IMF chief says.
Stocks are perky this afternoon, up about 2%. AUD has bounce nicely from key 0.7140 support, partly on risk assumption…The rest of the ris trades are firmer as well.
EUR/USD trades at 1.3177 from 1.3125 lows, which equaled the London bottom.
