A very close friend of mine told me of a rumor that China will try to devaluate the RMB in the coming year. They planned to release new RMB500 bills into circulation. Currently, the highest bill is RMB100 and as we know, dumping more money (money supply) into the system tends to devaluate the said currency.
Does anyone know how to capitalize on this? RMB is not traded in online forex, but can we use JPY as a substitute? ie, BUY USDJPY?
Does anyone know how to capitalize on this? RMB is not traded in online forex, but can we use JPY as a substitute? ie, BUY USDJPY?