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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.98

+0.6%

Nov 21 4:00 PM EST

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To: John Hunt who wrote (26925)	1/24/1999 1:24:00 PM
From: John Hunt	Read Replies (2) of 116764

China ponders yuan devaluation << The devaluation of China's currency, the yuan, might not be a bad thing, the official China Daily said yesterday, quoting analysts in the first such admission since the start of the Asian economic crisis in 1997. Financial markets across the world had responded positively last week to the devaluation of the Brazilian real, the paper said, raising the possibility of a yuan devaluation. "Some analysts said the devaluation or floating of the renminbi (yuan) would not definitely be a bad thing and may not trigger a fresh round of currency devaluation," it said. Beijing has held the yuan steady at about 8.3 to the US dollar and has repeatedly pledged to prop up the currency in the interests of regional stability. -- cont'd -- >> theaustralian.com.au What a crock ... now devaluations are good.

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