Social Media went wild for Rumors regarding the Chinese Yuan’s Drop

China’s currency dropped sharply in Tuesday’s overnight trade. Citizens were on fire with the rumors of the Yuan’s drop. Currency analysts showed that Yuan slipped, while the dollar gained as much as 7.49 in the overnight trade.

According to data, onshore currency would have been an 8.8 percent move towards the green market for the currency pair which closed at 6.8830 but since onshore accounts does not trade overnight, rumors have spread that the offshore yuan which was the reason for the social media to go crazy of the news.

Analysts have cleared out that rumor and indicated that they hadn’t seen any sign of drop. In addition to that, Reuters's data didn’t show anything close that would show the offshore USD/Yuan’s high for the year was at 6.9650.

The Chinese currency will likely get boosted from the surge from yesterday’s cost of borrowing that were in sharp rise which made it more expensive for traders of the Chinese Currency

Why Apple is getting the Jitters

Despite criticisms of the new Mac Book “Pro”, the demand for the latest Apple Mac Book seems to be strong.

iPhone 7 sales continues to perform strong which was boosted by the news that the new Samsung is a ticking time bomb in your pocket, plus that rumors that the iPhone 8 is already on its way, the outlook for Apple in the next year looks good.

As Apple rake up cash from its current products now, there is still doubts that Apple laboratories would come up with more innovative products  that would wow the crowd.