[Paladin2]

What is the size of the Chinese devaluing?

[blam]

"What is the size of the Chinese devaluing?"

Dr Copper Making Way Too Much Of China Devaluation

"The red metal is also sometimes referred to as Dr Copper for its ability to provide a prognosis of the health of the global economy. Down nearly 18% year to date, copper is making dire predictions."

"The People's Bank of China jolted markets overnight after lowering the renminbi’s daily reference rate against the US dollar by 1.8%, the largest such adjustment in its history.

[riverdawg]

About 4% against the US dollar, so far. As I understand it, the Chinese have a “noisy” peg of the yuan against the US dollar, allowing trades within a +/- 2% band of the peg. But the US$ has soared in the past year (e.g., a 20% rise against the Euro and many other currencies), and China's policy has dragged the yuan upward along with the US$. This has hurt Chinese exports to other countries, and the devaluation is designed to realign its currency with other non-$ currencies.