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Main » 2016 » March » 15 » China punishes bears
China punishes bears

 From the moment when China spooked investors unexpected devaluation of the yuan in August 2015, markets continue to actively build a theory according to which the shocking step of China - an indication that the yuan will weaken further in an even larger scale - for AMarkets materials.



The weakening of the yuan occurred at a time when the Chinese economy is most noticeable sags. From the moment traders started actively betting on a further depreciation of the yuan. The most well-known Wall Street hedge fund managers - Kyle Bass, Stanley Dryukenmiller, David Tepper, David Einhorn - they make bets on a further upward movement of the pair USDCNY, which symbolizes the strengthening dollar and weakening of the yuan. Recently, Bloomberg reported that "the battle between believers and non-believers in the bright future of China's more noticeable turns bloody massacre for the bears." This is because the Bank of China has been extremely active in the official and unofficial exchange market - mainly speaking buyer-yuan, which allowed the return rate to around 6.50.Schedule - looks like the Bank of China foreign exchange intervention in the case in practice.

The graph two points - the devaluation and the time when the Central Bank began work on the "alignment" of the course:

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