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China's yuan broke through 7 per dollar for the first time since 2008, and PBOC Governor Yi Gang said China would not engage in competitive devaluation. The move followed Trump's announcement of 10% tariffs on another $300 billion of Chinese goods.
The central bank's denial suggests the weakness may be limited, though a weaker yuan still makes Chinese exports cheaper and adds pressure on trade flows. The effect on agricultural prices depends on whether tariffs and retaliation expand.
cnbc.comYun Li05.08.2019Nach 398 vergangenen Ereignisse (bullisch, Makro) bewegte sich Chinesischer Yuan (CNY pro USD) im Median über 5 Handelstage um +0,0 % (56% höher; mittlere Hälfte -0,3 % bis +0,5 %) und über 20 Handelstage um +0,0 %.
Veränderungen des Benchmarks jedes Rohstoffs seit dem letzten Schluss vor dem Ereignis. Historische Werte bündeln frühere Ereignisse derselben Art; sie beschreiben, was passiert ist, nicht was passieren wird. Keine Anlageberatung.
The yuan broke 7 per dollar for the first time since 2008 following the tariff announcement, and the PBOC's comments on the move confirm the policy-driven currency shift.
The break of 7 for the first time since 2008 followed the 10% tariff announcement; the PBOC's denial of competitive devaluation shows the policy-driven nature of the depreciation.
