Trump accuses Russia and China of currency devaluation

Author: Adam Button | Category: News

The latest Trump tweet

I don't know why he's tying US interest rates into that but ok.

Russia has increased buying of foreign currencies this year but the reason the ruble has been beaten up lately is because of US sanctions.

Meanwhile, the US dollar has been falling against the Chinese yuan for 16 months and is trading near the lowest since mid-2015. In other terms, the yuan has gained nearly 10% against the US dollar in 16 months and 6% since the start of the year.

On Friday, the Treasury Department published its semi-annual report on currencies and declined to name China (or anyone else) as a currency manipulator. It didn't even name Russia.

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