An Interesting Juncture for the Renminbi

Between stimulus and response there is a space. In that space is our power to choose our response. In our response lies our growth and our freedom.
-- Viktor E. Frankl

On Friday, the People's Bank of China (PBC) announced it would allow the yuan/renminbi to trade at a wider band relative to the U.S. dollar -- from 0.5% to 1%. The timing of the announcement came largely as a surprise to market participants, but it does make sense, given concerns over China's slowing exports and weaker-than-estimated economic growth. There is a case to be made that, no matter which direction the renminbi trends as a result of the widening of the trading band, in the short- to intermediate-term it will be a net positive for China....353 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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