China’s yuan leaps to 7-month high, led by stronger yen, unwinding of global carry trade
China’s yuan leaps to 7-month high, led by stronger yen, unwinding of global carry trade
www.scmp.com China’s yuan leaps to 7-month high as yen gains, carry trade unwinds
The sudden uptick in funding currencies, particularly yen and yuan, dented carry trades, after weak US labour data late last week stoked recession worries and expectations of deeper rate cuts by the Federal Reserve.
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Not going to lie I was skeptical of Chinese fiscal policy recently... But turns out there's a reason that I'm not a Chinese economicist.