China Losing Control of Yuan Depreciation ahead of Trump Presidency
China has tried to depreciate the yuan in a controlled manner, but, increasingly, this is becoming more and more difficult to maintain. Investors and businessmen, knowing this, have placed bearish bets on the yuan or converted yuans into dollars, which hastens the decline of the second largest economy’s currency. China has pushed a weaker yuan since it entered into the International Monetary Fund’s group of reserve currencies in early October. The yuan’s decline increased when Donald Trump won the U.S. presidential election. That victory hastened the US dollar’s year of gains.....
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U.S. President-elect Donald Trump has pledged to declare China a currency manipulator on day one of his presidency. During his campaign, he also repeatedly pledged to impose a 45% tariff on Chinese goods. His promises risk creating a trade war between the U.S. and China which could weaken the yuan and accelerate Chinese capital outflows. When the yuan....
As Juniper stated in its May report, it seems a Donald Trump presidency is going well for the price of Bitcoin, which has risen overnight with a gain of about 5 percent from $702 to $737. Coupled with the weakening Chinese yuan, the total USD value of trading volume on major Bitcoin exchanges, according to Blockchain.info, rose within the last 24 hours from $13.6 mln to $21.7 mln as of Nov. 8, whilst from Nov. 6 the number of daily confirmed Bitcoin transactions jumped from 228,420 to 296,060. The U.S. Republican presidential candidate’s rise in the poll for presidency has correlated with....
U.S. Presidential candidate, Donald Trump is certainly not a man afraid of causing a stir in the world’s economies, and that, apparently, also extends to the world of digital currency, namely, Bitcoin. According to a new report conducted by Juniper Research, global concern over the possible election of Donald Trump as the next U.S. President and other economic concerns, have found that the price of Bitcoin could experience a massive increase. Trump presidency ranked within Top 10 global risks. According to the study by Juniper Research, they found that the total value of Bitcoin....
The price of Bitcoin seems to be climbing again. According to CoinMarketCap, the price of the top digital currency jumped from a rate of $618 earlier on Tuesday October 11 to $633 in three hours at a +2.5% difference. The rise may have to do with the China's yuan fall to its lowest level in six years early Monday October 10 before erasing the losses on the first day of trading after a week-long holiday. Some China watchers have wondered if any signs of yuan weakness following the holiday would signal that Beijing was putting the currency back on a slow depreciation path after holding it....
– he failed to demonstrate his understanding of the Internet and contemporary, borderless commerce. If it’s not remittances, immigrants in the US will figure out a way to send their money home if they want to do so. For now, it’s not going to be Bitcoin. But, if Trump does block remittances, you better believe that sooner than later increasing numbers of remitters will look into this blockchain technology. Knowing crypto-currency enthusiasts, they’ll likely troll Trump with Wallcoin. Or “Wall: The Blockchain Solution That Knows No Walls.” There’s already “Trumpcoin.” Trump wants to use a....