would it be smart to buy yuen now?

Since china just devalued their currency is it decent to start buying it? What is the best way to do this?

 

No I would stay away from it, its like the chf, it will go sideways for weeks

 

how do you do it? Long or short. I know of no way for a retail trader to buy/sell yuan

 

You have RMB pairs with IB (check USD.CNH and EUR.CNH ), as well as rmb futures in US and Singapore at least. It's the offshore rmb, you might need to study a bit on how it follows the onshore rmb if you want to trade it.

 

Oanda is another retail platform that has usd/cnh (offshore rmb)

I'm long, I think they devalue further, but what do I know.

 

what's the liquidity like? Is it actively traded during USD hours? What hedgers typically have large positions?

 

ok, thanks, I have it on my screen USD.CNH, not sure what it is or how it moves, but will watch it. That's the only way to know anything. I mean really, I have no idea what it is or who I would be trading against.

 

I mean, what is a "yuen" other than just some currency that can be raised or lowerd at will by some old fashioned government. At least it takes the good old federal reserve months if not years to decide when they want to devalue the dollar. See the difference?