Trump trade adviser Navarro warns on FX manipulation

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. Source