Chinese yuan devaluation surprises markets
August 12, 2015 at 13:30 PM EDT
This article was written by Rob Waldner, chief strategist and head of the Multi-Sector team for Invesco Fixed Income. In a surprise overnight move, China devalued its currency, the yuan, by 1.9%, the first time it has altered its exchange rate regime in more than 20 years.1 The People’s Bank of...