Didn’t we just have a G20 meeting?
Undersecretary for International affairs Brainard says they are working hard to ensure China makes progress to market-determined exchange rates. China has allowed an accelerated yuan rise of late; if sustained it would help correct under valuation.
China is a worry today, but it’s not exchange rates traders are worried about. It is interest rates. Fears of Chinese tightening are knocking the crap out of commodities, as is the stronger dollar.
Copper, for example, is down 5%.