Tag Archives: China Leading Index Plunges To Worst Since Feb 2009 Sending Yuan To Lower Trading Band Extreme

ZeroHedge – China Leading Index Plunges To Worst Since Feb 2009 Sending Yuan To Lower Trading Band Extreme – 30 December 2014

ZeroHedgeChina’s Leading Index has fallen to its lowest since Feb 2009 this evening, down 4 straight months from credit-driven 18 month highs. This economic weakness has exaggerated the already weak tone in Yuan trading this evening pushing CNY to its weakest in almost 7 months (against the USD), its furthest on record from the CNY Fix (10-month highs), and very close to the PBOC’s upper +2% band for CNY trading. At 6.23, USDCNY is over 1000 pips weaker than the CNY fix. We suspect the weakness in Yuan is also driven by further corruption crackdowns as China will require VIP gamblers in Macau to undergo a record check.

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