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Weaker yuan deals Asia's casinos a losing hand

Asian travel hotspots may be counting on an ever-growing horde of Chinese tourists for growth, but China's move last week to weaken the yuan may choke off the flow of travelers. "China's high growth in outbound travel was partially due to a strong renminbi and lower tax in overseas countries," Deutsche Bank (XETRA: DBK-DE) warned in a note last week. "Although travel agencies may bear the ...
Source: CNBC.com | By: Leslie Shaffer
Faber: Yuan devaluation is completely meaningless

Global markets may have convulsed since China pushed its currency lower this week, but the step is "completely meaningless," given its relatively small move, perma-bear Marc Faber, publisher of The Gloom, Boom & Doom Report, said. "You have to look at the Chinese currency in the context of all other currencies," Faber told CNBC. "Over the last few years, the yuan has appreciated the dollar and ...
Source: CNBC.com | By: Leslie Shaffer