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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (18222)	5/25/2016 4:33:01 AM
From: John Pitera	Read Replies (1) of 33421

China weakens yuan fixing to lowest since 2011 May 25 2016, 04:07 ET \| By: Yoel Minkoff, SA News Editor The People's Bank of China lowered the yuan's reference rate by 0.3% to 6.5693 per dollar overnight, marking the currency's weakest level against the greenback since March 2011. The moves could increase tensions between China and its trading partners, as recent strength in the dollar and yen make exports from those countries less competitive globally. "It could be because the authorities want to alleviate some of the depreciation pressure before the Fed interest rate decision in June," said Christy Tan, head of markets strategy at National Australia Bank Ltd. in Hong Kong. seekingalpha.com ----------------------------------------

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