Experts fear that the trade war between China and the United States could develop into a currency one

Against the backdrop of a further fall of the yuan against the US dollar, experts fear that the trade war between China and the US could develop into a currency one, as China can use the weak national currency as a weapon in the event of increased tensions with Washington. The fall of the yuan for the 11th consecutive session is a record-breaking period of its continuous easing. On Thursday, at the auction in Shanghai, the yuan against the dollar rate fell by 0.3% to a minimum since December 20, to 6.63 yuan per 1 dollar. CNBC writes that the PRC authorities allow the yuan to become cheaper in order to increase the attractiveness of Chinese exports abroad.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
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