The Dollar Loses 10% Against Chines Yuan

fed ecb printer nov 2020 satire

The dollar has lost significant value against the Chinese Yuan (CNY) since May of this year. It has dropped from $1 buying you 7.2 CNY to now just 6.5 CNY, its lowest level in two years. The dollar was gaining significantly against yuan following mass devaluation of CNY which the Chinese Communist Party (CCP) tried to maintain by implementing stringent capital controls to the point they closed crypto exchanges. For much of this year however the dollar has been mass devaluing, with trillions printed for helicopter money and to bail out companies. That has led to a strengthening CNY because somehow they quickly brought the pandemic under control in just three weeks, leading to wild speculation. America is still struggling with it, so causing a drop in the dollar strength to its lowest point since May 2018. Some recent gains by the dollar in its strength index are due to…

Read the original article here