Will the Chinese Yuan weaken from 7 to 8?
Prolonged trade tensions are set to keep the Chinese yuan weak past its psychological 7 level against the USD. Labelling China a currency manipulator and the coming 10% US tariff on the remaining USD300bn of Chinese goods have brought the yuan a step closer to the 8 level. Much depends on whether US President Trump keeps increasing tariffs into next year’s US presidential elections.
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