Yuan’s next move may depend on Trump’s news conference - CNBC

Dhwani Mehta FXStreet

CNBC carries an article on Wednesday, suggesting that the upcoming Trump’s first news conference post-US elections win will determine the next direction for the Chinese Yuan.

The US president-elect Trump has always been on a war-front with China, labeling the country a currency manipulator for the purposes of a competitive trade advantage and threatening to impose a tariff of as much as 45% on China's exports to the US.

Following a Trump win, the yuan hit more-than eight year lows per dollar, touching the worst levels since global financial crisis.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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