Reuters info, quoting Peter Navarro, Trump’s incoming senior counselor for trade and manufacturing:
“I don’t believe the Trump Treasury Department would welcome Chinese currency manipulation very fondly. The history of China as a currency manipulator is well-known.”
I posted on the reports China is mulling sending the yuan lower earlier this week:
If China aggressively intervenes in the yuan, it “raises the risk of a tariff cascade”
Reuters reported a number of analysts canvassing the possibility. The Reuters report is gated.
Weekly CNY chart – check out the free charting app on ForexLive and you can adjust the time scale to see an even bigger picture.
This article was written by Eamonn Sheridan at www.forexlive.com.
