Chinese Yuan: How and Why Beijing Is Quietly Devaluing Its Currency
For a government that has never shied away from taking an active role in markets, China’s ruling party has seemingly taken a laissez faire approach to its currency despite the Trump Administration’s crippling tariffs on the country. Using the “offshore” (Hong Kong) version of the currency pair, the chart below shows that the is essentially unchanged at 7.30 against the since the week after the US election: Source: StoneX, TradingView Since then, USD/CNH has bounced around between about 7.20 and 7.40, and the 200-day MA remains flat near 7.22, confirming...
