Could it be the Renmimbi to curb the strength of the dollar against the euro? We have just reached the cyclical deadline that we showed in February, all in conjunction with an 12-months rate of change well below 20%. After breaking through the lower wall of the channel delimited by the conjunction of the lows of 2008-2010-2012, the market has accelerated downward in a probable (if we consider the cyclical conjunction) excess destined to return. The post Fed and the reaction of EurUsd would seem to go in this direction, but only a return of EurCny above 7 should address to the liquidation of the investment in Renminbi.
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