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China tells state banks for a massive dollar dump and yuan buying spreemarkets.businessinsider.com/news/currencies/china-bank-dollar-yuan-currency-markets-economy-beijing-fed-hike-2022-9
318 sats \ 5 comments \ @satup 30 Sep 2022 bitcoin
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295 sats \ 2 replies \ @shyfire 30 Sep 2022
DXY seems unaffected by the news. Time will tell I guess?
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100 sats \ 0 replies \ @satup OP 30 Sep 2022
I guess little rooms for RMB to stretch, given their poor economy now.
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9 sats \ 0 replies \ @faithandcredit 30 Sep 2022
I have a feeling most people dont know what the DXY is. But its a basket of currencies, mostly euros, so of course its not effected by this news?
Here is the breakdown
Euro (EUR), 57.6% weight Japanese yen (JPY), 13.6% weight Pound sterling (GBP), 11.9% weight Canadian dollar (CAD), 9.1% weight Swedish krona (SEK), 4.2% weight Swiss franc (CHF), 3.6% weight
https://en.wikipedia.org/wiki/U.S._Dollar_Index
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29 sats \ 0 replies \ @cryptocoin 30 Sep 2022
An archive of the article is here. An archive has no paywall, no subscription requirement, and can be easier to read.
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0 sats \ 0 replies \ @satup OP 30 Sep 2022
in the meantime, "China forex regulator warns against illegal money outflows" https://archive.ph/zbXq1
strangely, they didn't mention underground crypto exchanges. Maybe all cracked?
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