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.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.