Bank of America Identifies Top Asia-Pacific Semiconductor Stocks Poised for AI-Driven Growth 
U.S. Strikes on Iran Draw War Crimes Warnings from International Law Scholars 
Gold Loses Shine as Crude Oil Surges: Safe-Haven Metal Retreats Toward USD 4,500 Support 
Citigroup Delays Fed Rate Cut Forecast Amid Strong Jobs Data and Inflation Concerns 
How will the Iran war change the Middle East? We asked 5 experts 
Morgan Stanley: Fed Rate Cuts Still on Track Despite Oil-Driven Inflation 
Goldman Sachs, ANZ Cut Oil Forecasts Amid U.S.-Iran Ceasefire Hopes 
Private Credit Under Pressure: Is a Slow-Motion Crisis Unfolding? 
Today's currency move by China is a historic one. Peoples Bank of China (PBOC) surprised the market today by introducing much awaited devaluation of currency to stimulate economy.
Each day at 9:15 am local time the People's Bank of China fixes the currency, allowing investors to trade the currency within 2 per cent either way of the mid-point.
The moves in fixes are usually tiny as per historical record, however today it has reduced fix by 1.9%, largest on record, prompting biggest single day move in Yuan. So far in 2015, the largest change in fix has been 0.16%, prior to today.
After months of criticism that PBOC is not doing much to support the economy and analysts arguing for devaluation in currency, PBOC has finally cleared its stance to support its economy via exports.
The move, immediately sent shockwaves through financial markets, dollar rose sharply against most currencies. Volatility increased across all commodities. However large portion of the move has been reversed so far.
Chinese Yuan is currently trading at 6.39 against Dollar, up 2.9% today so far (USD/CNH).
