Chinese Yuan CNY Devalues 9% instantly! [Media Blackout?]

[imbladednow]

This is unbelievable! Now it just moved 9% back the other direction!

Market makers. Gotta love them!

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[1715632881]

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[BurtW]

So I guess it was a "glitch" after all that...

[Derek492]

So I guess it was a "glitch" after all that...

A 5 hour glitch with live trading during, with no news whatsoever...?

As of right now, Google says it is still 7.48 to the dollar...but they changed the 9% to 0%

[hacknoid]

XE is back to normal, others aren't yet

Still looks weird... after dropping back down it is now rock steady for the past 40 mins ... not the behavior of being actively traded.

[hacknoid]

Finally a news story:

http://foreignpolicy.com/2016/12/05/did-chinas-currency-just-drop-off-a-cliff/

<snip>
 Could Beijing have have just answered President-elect Donald Trump’s weekend provocations?
</snip>

Maybe they just let it slide for an hour, to prove a point.  Pretty serious, but who knows?

[Shiroslullaby]

"People are saying that the upstream provider(ICAP) of XE made a mistake..."

other sources are saying that the price is correct....
Will have to wait and see but I would think a data error is more likely since many sites are showing a stable price.
(Unless we have some serious media coverup going on.)

[imbladednow]

"People are saying that the upstream provider(ICAP) of XE made a mistake..."

other sources are saying that the price is correct....
Will have to wait and see but I would think a data error is more likely since many sites are showing a stable price.
(Unless we have some serious media coverup going on.)

Ofc the price was correct. We all saw it. All im saying is expect more wild swings because You can only hold the flood gates for so long before the pressure becomes so big it over powers the gates and wipes everything out.