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Forex

Currency Wars - What Will Break the Cycle?

The term “currency war" may sound like sensationalism. But the series of competitive devaluations in global currency markets over the past several years have essentially created a series of global currency battles.

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Central Banks dictate FX moves

The debate over the outlook for rates and central bank stimulus (alongside uncertainty over the Chinese economic growth path) continues to be the dominant driver of G10 currency pairs

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The Chinese yuan: a box less black

The yuan fell by 1.9% against the US dollar on 11 August. At first glance, this engineered devaluation by the People’s Bank of China appeared benign. When Argentina abandoned its peg to the US dollar in 2001, the peso dropped 40% in a day. Switzerland’s move to scrap the Swiss franc’s cap with the euro in January this year caused its currency to rise by than 19%. The yuan’s move, in comparison, looked paltry

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China: further devaluations before the end of the year

On August 11, China’s central bank, PBOC, announced that it had decided to improve its central parity system so that the exchange rate of the Chinese renminbi against the U.S. dollar would better reflect the market situation.

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Currency Wars in Asia?

The devaluation of the Chinese yuan is unlikely to mark the start of competitive currency devaluations coming to Asia

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Large yuan depreciation not on the horizon

Schroders believes today’s moves by the PBoC do not signal the start of a substantial devaluation in the yuan as financial and social stability remain the overriding concerns for policymakers.

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