fucking with the markets, excuse the swear word, de-pegging (USD/Yuan) news got some China watching economist/s all hot and horny that China were finally going to allow appreciation of their currency. Although the funnest thing happened on Monday morning (June 21st 2010) trading (Australasia), the USD was sold, every-other currency was bought then China released their midpoint rate which was, guess? Same as Friday's before the talk of a de-pegging and market re-evaluation (now 6.80), or appreciation of the Chinese currency. Traders were short squeezed and the USD was bought back.
It has been on and off (since the news of Yuan appreciation) now back on as the USD is sell.
Central banks are out of control at the moment, more so with innuendo and rhetoric (all they got left?).
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