...or else
The US is said to press for stable Yuan as China trade talks resume.
- stable Yuan pledge said to be part of deal under negotiation
- US said to wield tariff threat if China violates Yuan pledge
The move is aimed to neutralize any effort by China to devalue its currency to counter American tariffs.
The goal of the meetings is to get to a "Memorandum of Understanding". That would hopefully lead to a deal.
The USDCNH (offshore Yuan) moved from a low of 6.2355 to a high of 0.6976 in October. That is an 11.93% move from the low (lower CNH). Since then the price has corrected 38.2% of the gains to 6.6953 area. We currently trade at 6.75498. We are also moving below the 200 day MA at 6.7742.
