The yuan drop is due to USD strength. Nope, wrong.

Hi again everyone. I have been posting on this the past few weeks

Trying to correct a clear mistake I see spouted on the internet time and time again. So I better try again.

That the drop in the yuan is just a USD strength story.

This is incorrect.

Here is the yuan against its basket, CFETS index:

What you see here is a drop of a gain it took about 10 months to achieve in just a couple of weeks.

Just a USD story then? Nope, wrong

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