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As Trade Talks between US and China Diminish, Yuan Sells Off
Yesterday, the US imposed sanctions on 28 Chinese tech firms. Today, China’s Liu He said he will not be negotiating on Xi’s behalf. The Chinese delegation will leave a day earlier than originally planned, on October 11th instead of the 12th. The White House is looking to limit Chinese stocks within government pension fund. China is mad at the NBA. All negative headlines! How can any kind of trade deal get done with all the negative headlines coming out today from both China and the US? At least, that’s what USD/CNH was thinking today, up almost 0.45%! USD/CNH began its uptrend when it put in a triple bottom ... (full story)