MIKECRISTO
China now uses interest rates on their gold reserves to weaken the yuan against the dollar, which drives the value of China’s exports higher (China exports more than the U.S.) While having a stronger U.S. dollar drives the value of American exports lower. (The U.S. exports less) China doesn’t care about their stock market, It cares that their citizens have jobs and are working, hence China’s export market. --
What did China just do?
They weakened their currency which lowered rates on the yuan 10yr.
China controls the gold price through interest rates.
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