The death toll from a massive explosion in the chinese sport city jumps to 44 according to state media. Hundreds more are injured as shockwaves destroy a vast industrial area. Chinas Central Banks reassured markets about the countrys currency. It says a strong economy, sustained surplus and Ample Exchange reserves give strong results to the Exchange Rate. They also dismiss speculation of a possible 10 for the currency. It weakened for the Third Straight day as the pboc lowered its range yet again. However the gap between the guided rate and traded rate has narrowed. Repercussions of chinas move to devalue its currency a big topic of discussion and the negative impact on exporters. However some are taking advantage in the drop of prices. We are up 150 points. The u. K. Index, ftse 100 up 53 while the french markets are seeing a gain of 86 . Been close to 6 off of two previous trading sessions. So not entirely surprising to y today. Lets discuss what this means. John a very good morning