Big Mac suggests Yuan is approaching Fair Value

Published 29 July, 2011, 12:13, CEST+1 | By the trader

The US might go into technical default, but at least we have the Big Mac intact. The Economist’s Big Mac index is giving us some insight on currencies and their value. The Brazilian Real is the most overvalued currency, while the Chinese Yuan is reaching fair value. Wonder what Geithner thinks of this?