China’s ‘weaponised’ yuan, report of suspended US farm purchases create grim outlook for trade talks

China’s move to allow the yuan to drop below the level of 7 to the US dollar to “effectively weaponise the exchange rate”, coupled with a report of cancelled purchases of American farm products in response to the threat of increased tariffs from US President Donald Trump, create further uncertainty for future trade talks, analysts said.On Monday morning, the yuan offshore rate dropped below the level for the first time since trading started in Hong Kong in 2010, while the onshore rate reached…

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