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Careful What You Wish For . . .

Posted By Barry Ritholtz On July 21, 2005 @ 9:25 am In Currency,Economy | Comments Disabled

Talk about timely:  Yesterday [1], I pointed to a fascinating piece of research/commentary from GaveKal Research Limited [2] of Hong Kong, Stockholm and New York.

Today, the People’s Bank of China revalued the RMB by 2.1%, from 8.27 to 8.11 to the US Dollar, against a basket.

Be sure to read that piece [1] as to some of the dangers to the US economy of this revaluation.

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More to come on this later . . .


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2005/07/careful-what-you-wish-for/

URLs in this post:

[1] Yesterday: http://bigpicture.typepad.com/comments/2005/07/playing_with_fi.html

[2] GaveKal Research Limited: http://www.gavekal.com/

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