Yuan Is Plunging To Fresh 13-Month Lows

With the US waking up excited about a possible 4 handle for GDP growth, China is ending on a dismal note as offshore Yuan plunges to fresh 13-month lows - the 7th weekly drop in a row.

China's equity market bounce on Tuesday (National Team?) has given way and CHINEXT (China's 'nasdaq') ended the week red...

But the big moves are in the currency, as a midweek dead-cat-bounce has ended in carnage as offshore Yuan plunged...

 

This is a new 13-month low for the Chinese currency...

Is China 'retaliating' or has it lost control?