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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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....
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....
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