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China's provocative currency move is nudging another flashpoint with Donald Trump
It has passed without much notice that China's currency, the renminbi, has been weakening this month to the point where it is again nudging a critical threshold that would provide another flashpoint in its tense relationship with the United States. The renminbi traded at Rmb6.917 to the US dollar on Friday, just short of the seven renminbi to the dollar level seen as, not just an important psychological level, but as the point that would provoke a hostile response from the Trump administration, which has warnedChina not to use currency depreciation to offset the impact of its tariffs on China's exports to the US. In ... (full story)