From one aspect, you only need to look at China's long and rich history to understand the lessons of isolationism and the impact of sinking, shrinking (non-buoyant) net exports and the real damage it does to any nation and its people. This protectionism can be seen through a prism. Is it a hedge, a response/correction or neither? Understanding the drivers of what is behind these kinds of drastic-destabilizing moves is the key.

My opinion, a government has a responsibility to its people and unilateral intervention (protectionism) in any nations own currency is the sovereign right of that nation. It should be the market that decides where the chips fall without undue influence or external market inhibitors. Reality always circumvents idealism however.

Here is where some may stray. I believe these moves are methodical and calculated [why wouldn't they be?] and view this as another move in the One World Currency global playbook whereby you start at where you want to be and work yourself backwards to where you are now. Make things look out of control and sweep in with a solution.

Felt it in Tustin (Orange County) Shook for approx 5+ sec