China Sends Trump A Message: Fixes Yuan Sharply Weaker Than Expected For 3rd Day | WHAT REALLY HAPPENED


China Sends Trump A Message: Fixes Yuan Sharply Weaker Than Expected For 3rd Day

A glimmer of hope for improvement in Sino-US relations emerged today after reports that President's Trump and Xi would meet at the G-20 summit and that the U.S. Treasury will avoid labeling China an FX manipulator. The glimmers were enough to send the offshore Yuan surging from 6.94 overnight to as low as 6.87 in hours.

But were the rumors true, and was China willing to reciprocate to what appeared to be an olive branch by the Trump admin?

Moments ago we got the answer.

With China, and specifically it currency, now the fulcrum security in defining not only daily emerging market sentiment, but also telegraphing Beijing's day-to-day feelings toward the US president, traders were keenly focused on what the PBOC's Friday yuan fix would be, especially after two days of central bank fixes that were below the average analyst consensus.

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