This week, the yuan broke above the 7.0000 handle against the dollar and continued to rise. Generally, the Chinese currency isn’t a popular trade because it’s officially kept within a trading band. The government allowed that band to drift above the technically and psychologically important level for the first time since late last year. The weakness in the yuan is seen as another indicator that the expected boom following lifting of covid restrictions has not arrived. The currency initially gained against the dollar back in December because many traders were anticipating the Chinese economy to grow substantially. ... (full story)