Chinese yuan is rapidly depreciating against USD. China is easing while Fed is tightening. Is the yuan due for a more severe devaluation…?

by silvertomars

🇨🇳 #China’s industrial profits plunged about 13.5% YoY in July (fastest pace since March 2020), according to an estimate from Bloomberg Economics.
*The official YTD showed a 1.1% drop in the first seven months of 2022, compared to a rise of 1% in the six months through June. pic.twitter.com/LdP34ZfV6m

— Christophe Barraud🛢🐳 (@C_Barraud) August 29, 2022