Chinese Currency Devaluation: China’s Central Bank, the People’s Bank of China (PBOC) yesterday weakened it’s currency by 1.9% to it’s lowest level in more than 2 decades. The move was swift and unexpected by markets. With traders waiting patiently for Australian NAB Business Confidence data less than 15 minutes before the PBOC made its move, many were left scrambling to change their AUD/USD plan of attack. After a run of poor economic data releases, including dismal Trade Balance and
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