China’s yuan has tumbled to a record low against the US dollar in offshore trading, joining a host of currencies experiencing sharp declines against the greenback.

The offshore yuan, which is traded outside mainland China, fell to 7.2386 against the dollar on Wednesday, the Bloomberg news agency reported, the lowest since Beijing eased rules on trading the currency in Hong Kong in 2010.

The onshore yuan, which is circulated in mainland China and more tightly controlled than its offshore counterpart, fell to a low of 7.2302 per dollar in early trade, the weakest since the global financial crisis in 2008.

The declines come despite China’s central bank on Monday announcing moves to stem the yuan’s decline by making it more expensive to bet against the currency.

International investors have rushed to buy up the dollar, a traditional safe haven, as aggressive rate hikes by the US Federal Reserve stoke pessimism about the global economic outlook, lifting the currency to multi-decade highs against other key currencies.

On Monday, the British pound sank to a record low against the dollar as investors dumped the currency in a vote of no confidence in London’s economic plans, which include huge tax cuts funded by steep increases in government borrowing.

China’s economy has been battered in recent months by COVID-19 lockdowns, droughts, and a slump in the heavily indebted property market.

The world’s second-largest economy narrowly avoided contraction in the second quarter, with gross domestic product (GDP) expanding just 0.4 percent on year during the April-June period.

https://www.aljazeera.com/economy/2022/9/28/chinas-yuan-sinks-to-record-low-against-the-dollar

Where are all the guys that said the dollar was dead and the yuan was king?

the USD is as strong as ever against EVERY CURRENCY on earth at the moment.... today the USD is 1 on 1 with the Euro, last time that happened was 20yrs ago...and against the GBP, its at the highest its ever been.

MrBrownJay1:
the USD is as strong as ever against EVERY CURRENCY on earth at the moment.... today the USD is 1 on 1 with the Euro, last time that happened was 20yrs ago...and against the GBP, its at the highest its ever been.

Yes it is. Long live the mighty dollar.

1stGenAmerican:
Yes it is. Long live the mighty dollar.

i dont know what Biden is doing, but nobody can take that away from him... hopefully this is just temporary because people around the world are going to suffer if this trend continues.

MrBrownJay1:


i dont know what Biden is doing, but nobody can take that away from him... hopefully this is just temporary because people around the world are going to suffer if this trend continues.

Destroy Europe economy

Taking Germany down

I think say na only naira dey fall like Tinubu

ken6488:
Destroy Europe economy
Taking Germany down

lol, thats a great wish, but Europe is too strong for that.... and going against Europe will have the US with no valid allies in this world,with China on Russia's side, Europe is the last heavyweight on US side.

The British pound have crashed

MrBrownJay1:


lol, thats a great wish, but Europe is too strong for that.... and going against Europe will have the US with no valid allies in this world,with China on Russia's side, Europe is the last heavyweight on US side.

USA doesn't care about any one
That's what you guys don't get

USA first

wow

ken6488:
USA doesn't care about any one
That's what you guys don't get
USA first

sadly, the US cant even take care of its own debts, and you think you dont need anyone? lol, you are like a the fat kid in the room who has NO toys but yet wanna play with anyone else's toy. you depend on every country around the world for your major needs.

1stGenAmerican:
China’s yuan has tumbled to a record low against the US dollar in offshore trading, joining a host of currencies experiencing sharp declines against the greenback.

The offshore yuan, which is traded outside mainland China, fell to 7.2386 against the dollar on Wednesday, the Bloomberg news agency reported, the lowest since Beijing eased rules on trading the currency in Hong Kong in 2010.

The onshore yuan, which is circulated in mainland China and more tightly controlled than its offshore counterpart, fell to a low of 7.2302 per dollar in early trade, the weakest since the global financial crisis in 2008.

The declines come despite China’s central bank on Monday announcing moves to stem the yuan’s decline by making it more expensive to bet against the currency.

International investors have rushed to buy up the dollar, a traditional safe haven, as aggressive rate hikes by the US Federal Reserve stoke pessimism about the global economic outlook, lifting the currency to multi-decade highs against other key currencies.

On Monday, the British pound sank to a record low against the dollar as investors dumped the currency in a vote of no confidence in London’s economic plans, which include huge tax cuts funded by steep increases in government borrowing.

China’s economy has been battered in recent months by COVID-19 lockdowns, droughts, and a slump in the heavily indebted property market.

The world’s second-largest economy narrowly avoided contraction in the second quarter, with gross domestic product (GDP) expanding just 0.4 percent on year during the April-June period.

https://www.aljazeera.com/economy/2022/9/28/chinas-yuan-sinks-to-record-low-against-the-dollar

@1stGenAmerican, a strong dollar is seemingly good for the U.S., but is infact hurting the global
economy and many countries are still reeling in shock from the aggressive U.S. interest rate hikes.
This has led to many countries defaulting in their international loan payments due to the higher dollar interest rate hikes.

From your Al-Jazeera-sourced post, even the Euro and British Pound have depreciated against the
USD and the global financial headwinds have kicked in starting with the 2020 global lockdowns, the
Russian-Ukraine War, and now the global ripple effects of the U.S. interest rate hikes which were done to control hyperinflation in the U.S., but have led to worsening economic challenges for many
countries and their depreciating local currencies.

Let's see how things pan out in the global financial markets, and in the area of international trade in goods and services between now and 2023. For those who are business savvy and have discerning
minds, position yourselves for a great investment time.


Cc: Mynd44, Nlfpmod, Seun, Sukkot, Xiaohei

1stGenAmerican:
Where are all the guys that said the dollar was dead and the yuan was king?

It seems you've had too much "Red Bull" lately... "Ms. Dollar lover."

I'm waiting for you to go down on bended knee(s) and propose to this "Mr. Dollar," or Uncle Sam. *smirk*


But seriously though, the U.S. aggressive interest rate hikes have made the USD to be strong against a basket of international currencies due to more dollar inflows, but then high interest rates also increase the borrowing costs for U.S.-based manufacturers who then pass on the final cost of production to the consumers.



An insightful thread.

1stGenAmerican:
Where are all the guys that said the dollar was dead and the yuan was king?

Chinese don't add value to their currency. They constantly devalue yuan to make their products cheaper in other countries.

Even when rubles was getting stronger, when it reached 50 ruble to 1 dollar, Russia intervened and devalue the currency to 70 and 80 rubles to a dollar so that their exports can be cheaper.

US usually raise alarm that china is devaluing Yuan for market competition. This are the reasons why Trump was impossing heavy tariff on Chinese products in the US to make it costly so that Americans will buy made in America

MrBrownJay1:


i dont know what Biden is doing, but nobody can take that away from him... hopefully this is just temporary because people around the world are going to suffer if this trend continues.

No only suffer but will also wake up, why must the world trade in dollars? We are the one strengthening the dollar, I hope countries will grow balls one day and dump the dollar

Biodun556:


Chinese don't add value to their currency. They constantly devalue yuan to make their products cheaper in other countries.

Even when rubles was getting stronger, when it reached 1 ruble to 50 dollar, Russia intervened and devalue the currency to 70 and 80 dollars so that their exports can be cheaper.

US usually raise alarm that china is devaluing Yuan for market competition. This are the reasons why Trump was impossing heavy tariff on Chinese products in the US to make it costly so that Americans will buy made in America

No Sir. All Incorrect. And the ruble has NEVER in its history been 1 Ruble= 50 USD as you claimed. That would mean that the ruble was once stronger than the dollar which it never has been.

US is a big dog so dnt mess with them.

1stGenAmerican:


No Sir. All Incorrect. And the ruble has NEVER in its history been 1 Ruble= 50 USD as you claimed. That would mean that the ruble was once stronger than the dollar which it never has been.

It was a mistake. It is now corrected

tamdun:

No only suffer but will also wake up, why must the world trade in dollars? We are the one strengthening the dollar, I hope countries will grow balls one day and dump the dollar

You really don’t know why the world trades in dollars?

1stGenAmerican:


You really don’t know why the world trades in dollars?

Is it a must? We're they trading in dollars before?

AlphaTaikun:

@1stGenAmerican, a strong dollar is seemingly good for the U.S., but is infact hurting the global
economy and many countries are still reeling in shock from the aggressive U.S. interest rate hikes.
This has led to many countries defaulting in their international loan payments due to the higher dollar interest rate hikes.

From your Al-Jazeera-sourced post, even the Euro and British Pound have depreciated against the
USD and the global financial headwinds have kicked in starting with the 2020 global lockdowns, the
Russian-Ukraine War, and now the global ripple effects of the U.S. interest rate hikes which were done to control hyperinflation in the U.S., but have led to worsening economic challenges for many
countries and their depreciating local currencies.

Let's see how things pan out in the global financial markets, and in the area of international trade in goods and services between now and 2013. For those who are business savvy and have discerning
minds, position yourselves for a great investment time.


Cc: Mynd44, Nlfpmod, Seun, Sukkot, Xiaohei

nice one bro. used to be a time when the pound was 1.5 times stronger than the dollar. now they are neck by neck happy fridayyyyyyyyyy

Lol the dollar is on a short squeeze at the moment. The US is squeezing all countries of the dollar. Only country not experiencing this is RUSSIA. Wait till these countries start dumping their treasuries. Read the dollar milk shake to understand what is going on. Crash imminent, depression incoming.

sukkot:
nice one bro. used to be a time when the pound was 1.5 times stronger than the dollar. now they are neck by neck happy fridayyyyyyyyyy

@Sukkot my bruv... TGIF!

I just finished having a convo with
a friend here who has been based in China for 15 years now doing big business, over the effects of the Yuan weakening and more. I was just going to post a message to say hello to you when I saw your mention... very uncanny.

Wow, I want to thank you specially for the support you gave me these nearly 3 weeks that I was ill. I'm all
fired-up now after getting well-rested.

Ha! Folks in the UK are not smiling because of hyperinflation and the weakening of the British pound against the U.S. dollar. The UK is headed for a recession right now.

My younger brother lives and works in the UK and we discuss a lot of the specifics going on in the UK.

If you are an investor in the global financial markets, then you are
good to go! "Long the dollar, short other basket of currencies."



Have a great weekend.

All the best Sukkot.

RikudoSennin:
Lol the dollar is on a short squeeze at the moment.

The US is squeezing all countries of the dollar. Only country not experiencing this is RUSSIA. Wait till these countries start dumping their treasuries. Read the dollar milk shake to understand what is going on. Crash imminent, depression incoming.

Nicely put.

Frontier markets and emerging markets are getting hit badly right now due to the FED increasing interest rates since March 2022 to counter inflation in the U.S., and strenghten the USD, but the predictable result is that it has led to the weakening of the basket of major currencies. October 2022 will witness another interest rate increase.

The same thing happened in the 1970s when the U.S. was experiencing hyperinflation.

Since the U.S. dollar is used as a global reserve, this vicious cycle will continue anytime the FED increases interest rates, and if U.S. interest rates are reduced, inflation rises thereby hurting the economy! There's no way around it.

Very soon, there will be a global revolt and countries will start looking for alternative reserves thus ending the global ascendancy of the U.S. dollar. Ray Dalio talked about this "changing world order" as well.

AlphaTaikun:

Nicely put.

Frontier markets and emerging markets are getting hit badly right now due to the FED increasing interest rates since March 2022 to counter inflation in the U.S., and strenghten the USD, but the predictable result is that it has led to the weakening of the basket of major currencies. October 2022 will witness another interest rate increase.

The same thing happened in the 1970s when the U.S. was experiencing hyperinflation.

Since the U.S. dollar is used as a global reserve, this vicious cycle will continue anytime the FED increases interest rates, and if U.S. interest rates are reduced, inflation rises thereby hurting the economy! There's no way around it.

Very soon, there will be a global revolt and countries will start looking for alternative reserves thus ending the global ascendancy of the U.S. dollar. Ray Dalio talked about this "changing world order" as well.

It is already happening. China says they need to strengthen their currency, so they are dumping dollars. Others will follow suit. Russia has shown the world that the dollar is fiat and there is something called commodity based currency in regards to the gas for rubles.

The Fed are damned right now, QT or QE. Either way ends in disaster.

Ray Dalio said WRCs only last 90-100 years. The dollar is due.

RikudoSennin:


It is already happening. China says they need to strengthen their currency, so they are dumping dollars. Others will follow suit.

Russia has shown the world that the dollar is fiat and there is something called commodity based currency in regards to the gas for rubles.

The Fed are damned right now, QT or QE. Either way ends in disaster.

Ray Dalio said WRCs only last 90-100 years. The dollar is due.

Lol... You gave a kickass response here.

Those who don't know these facts about the dollar had better smell the coffee right now and prepare for a Plan B or a Plan C!

I just love Ray Dalio. He is one of the respectable Americans who spoke with brutal honesty about the predictable fate of the dollar based on economic cycles.

Cheers!

AlphaTaikun:

Lol... You gave a kickass response here.

Those who don't know these facts about the dollars had better smell the coffee right now and prepare for a Plan B or a Plan C!

I just love Ray Dalio. He is one of the respectable Americans who spoke with brutal honesty about the predictable fate of the dollars based on economic cycles.

Ray is a hedgefund manager so he knows things.
The Fed is in big trouble.

Cheers and have a good weekend mate.

AlphaTaikun:

@Sukkot my bruv... TGIF!

I just finished having a convo with
a friend here who has been based in China for 15 years now doing big business, over the effects of the Yuan weakening and more. I was just going to post a message to say hello to you when I saw your mention... very uncanny.

Wow, I want to thank you specially for the support you gave me these nearly 3 weeks that I was ill. I'm all
fired-up now after getting well-rested.

Ha! Folks in the UK are not smiling because of hyperinflation and the weakening of the British pound against the U.S. dollar. The UK is headed for a recession right now.

My younger brother lives and works in the UK and we discuss a lot of the specifics going on in the UK.

If you are an investor in the global financial markets, then you are
good to go! "Long the dollar, short other basket of currencies."



Have a great weekend.

All the best Sukkot.

hey brother AlphaTaikun wehdone my oga at the top. glad to hear that you are feeling better now. this life na management bros hehe. we manage everything,our health our finances etc etc and with GOD on our side the management will be successful. ahhh it does appear like the uk is falling oooo. was also speaking to a friend in the uk yesterday and he said the place is regressing badly. his gas bill has tripled. there is inflation over there as well as here too sha. oh and happy independence day may we be independent from the scheming of our enemies AMEN . AHHH you are a strong man oooo so you invest in forex ? i cant do that forex thing oooo lol i rather do sports betting bros make you DHL turkey to the boys this independent day oooo the boys remain ever loyal

sukkot:
hey brother AlphaTaikun wehdone my oga at the top. glad to hear that you are feeling better now. this life na management bros hehe. we manage everything,our health our finances etc etc and with GOD on our side the management will be successful. ahhh it does appear like the uk is falling oooo. was also speaking to a friend in the uk yesterday and he said the place is regressing badly. his gas bill has tripled. there is inflation over there as well as here too sha. oh and happy independence day may we be independent from the scheming of our enemies AMEN . AHHH you are a strong man oooo so you invest in forex ? i cant do that forex thing oooo lol i rather do sports betting bros make you DHL turkey to the boys this independent day oooo the boys remain ever loyal

@Sukkot,
Thanks bruv, and today is October 1. Happy new month to you as well!

Omo! LOL... You never fail to crack me up with your sense of humor. Nice one! You're the one we are relying on to send us FEDEX and DHL air cargo loads of turkey as a big kahuna that you are.

Yeah, about the UK, the U.S. and parts of the EU (like in France); did you know that there have been spikes or upticks in the crime rate with many car Catalytic Converters being stolen, mobile phones and watches also robbed from folks in London, Manhattan, Los Angeles, Paris, etc? There is an uptick in the purchase of pre-owned cars over new cars in the U.S., and full-blown U.S. economic recession hasn't started yet, but is projected to officially start in January 2023 and projected to last for 1 year and a half! We are currently back to the 2008 global financial crises
levels and the crime statistics and economic charts and parameters don't lie.

So, this is all part of the periodic but "iffy" business and economic cycles which eagle-eyed, savvy folks have to anticipate... and diversification of assets is the key to mitigating the effects of the strong economic headwinds.

Code: Learn how to fish in the global financial markets, and solve niche or mass market problems for folks - based on value addition.



Cheers!

RikudoSennin:

Ray is a hedgefund manager so he knows things.
The Fed is in big trouble.

Cheers and have a good weekend mate.

@RikudoSennin,

Thanks... "I wish you the same."