Its leash lengthened, China’s yuan flirts with trade war role

Timor Invest

Reuters/Kevin Yao and Noah Sin/9-26-2019

“China, having let the yuan cross the once sacred red line of 7 per dollar, will allow its currency to fall further and may even risk U.S. anger by using it as a bargaining chip in already thorny trade talks, market participants believe.”

USAGOLD note:  Initially it was thought that a weak yuan translated to lower gold price. Instead gold and the dollar rose in tandem.

Source: USA gold

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