Dave Johnson – What China’s Currency Devaluation Means

China on Monday announced it is lowering the value of its currency about two percent in order to boost its economic growth by supporting its exporters. Traders are betting that the currency will fall further. Markets around the world are reacting negatively. What does this mean?

Bloomberg Business has the currency story, in China Rattles Markets With Yuan Devaluation,

China devalued the yuan in a move that rippled through global markets, as policy makers stepped up efforts to support exporters and boost the role of market pricing in Asia’s largest economy.

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