Nov 19, 2014

China Is Not Fighting The Currency War

Interestingly too, the Chinese Yuan hit a 8 month high. So even as the Yen is falling and other currencies like the Euro galling, the Yuan is rising. It is positive on the year by about one to two percent against the U.S. Dollar, which means the Chinese currency is really strong against the Yen or the Euro, because the Dollar as been strong against those currencies, yet it is still dropping against the Chinese currency.

I think the Chinese are discovering that a currency war is not a war that you want to win. And clearly the Chinese are not fighting that. Their currency is rising against other currencies.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

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