Tuesday, June 28, 2011

The yuan starts going up again

Starting today, China would reverse the direction of the yuan. Over the next two days, China would strengthen her currency. In fact, by the end of this two day period, on June 29, the dollar would hit 6.463 yuan, which is almost exactly where it was on June 22, before China decided to weaken its currency for a few days.

Apparently, this made my government happy because TiVo shares would end their decline today. In fact, from June 28 to July 1, TiVo shares would rise 97 cents to $10.83.

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