The PBoC rate setting for today, the first day back from holidays, here:
7.1693 is the lowest for USD/CNY (ie strongest for CNY) since November 8 last year.
Earlier I posted on how China is not going to devalue the currency just yet:
China will hold the prospect of devaluation in reserve as a bargaining chip in negotiations ahead.
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Earlier:
- China announces counter-tariffs against Trump’s trade moves
- levies of 15% for US coal and LNG, 10% for crude oil, farm equipment and some autos
- China anti-monopoly regulator launches investigation into Google
This article was written by Eamonn Sheridan at www.forexlive.com. Source