Normal
Yep this is huge.Currency wars are well and truly on! Realistically it's no big deal, but from a market psychological point of view it's huge. The press will love it and go to town 'Currency War,' that will sell papers!!It's also a massive blow to China who were holding up the currency to save face as they try to sneak it down and this will catapult them in the direction they do not want to go!It also means the FED is going to find it even harder to raise again! Good for stocks (but not so much for Japanese bank stocks who will now have to pay to keep reserves) and commodities and AU. With expectations of Fed stepping back. But it's no big deal in real terms. Lets see if China uses it as an excuse to retaliate with similar action. Good for Gold should go crazy if that happens.
Yep this is huge.
Currency wars are well and truly on! Realistically it's no big deal, but from a market psychological point of view it's huge. The press will love it and go to town 'Currency War,' that will sell papers!!
It's also a massive blow to China who were holding up the currency to save face as they try to sneak it down and this will catapult them in the direction they do not want to go!
It also means the FED is going to find it even harder to raise again! Good for stocks (but not so much for Japanese bank stocks who will now have to pay to keep reserves) and commodities and AU. With expectations of Fed stepping back.
But it's no big deal in real terms. Lets see if China uses it as an excuse to retaliate with similar action. Good for Gold should go crazy if that happens.
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