China Firms Currency--2/16/2016

 

While the U.S celebrated President's Day, the PBOC (China's Central Bank) made an announcement that may turn out to be important.  With all the speculation that China would embark on an historic devaluation of its currency, they made a move that appears to be one that will strengthen their currency.  This could be key to a market rebound.

 

http://www.cnbc.com/2016/02/15/reuters-america-china-cbank-sets-yuan-mid-point-slightly-weaker-after-previous-days-jump.html