Chinese Yuan Renminbi approaching the $7 mark [$6.93]

[Hamartia Antidote]

 

[zectech]

mild movements helps exports

 

[bobsm]

Trump says the US needs a ‘fair playing field’ against China’s weaker currency as yuan hits lows of the year

KEY POINTS
*President Trump says the U.S. needs a “fair playing field” against China’s weaker currency, which is nullifying the impact of tariffs.

*Trump, in an interview on CNBC, says China’s president essentially heads the Chinese “Fed” and can directly impact monetary policy.

*Trump comments come as the yuan falls near its low of the year versus the dollar.


more @ https://www.cnbc.com/2019/06/10/tru...-playing-field-as-yuan-hits-lows-of-year.html

 

[Han Patriot]

View attachment 564570

US is afraid China might devalue Yuan to boost competitiveness and you are cheering us to devalue? Such a genius..lol

 

[Hamartia Antidote]

US is afraid China might devalue Yuan to boost competitiveness and you are cheering us to devalue? Such a genius..lol

China burned through 1/3 (over $1Trillion) of its foreign reserves last time the yuan approached $7 genius. Will it do the same this time...interesting question.

 

[Han Patriot]

China burned through 1/3 (over $1Trillion) of its foreign reserves last time the yuan approached $7 genius. Will it do the same this time...interesting question.

That was before a 25% tarriffs genius, now Trump is afraid of currency devaluation. And the one trillion reduction is not just because of manipulation, it's also because foreign funds took money out of China.

 

[Hamartia Antidote]

That was before a 25% tarriffs genius, now Trump is afraid of currency devaluation. And the one trillion reduction is not just because of manipulation, it's also because foreign funds took money out of China.

...and if it crosses $7 more capital outflow from China is likely. It doesn’t help with Cbina’s goal of having the Yuan become a global currency if it starts falling. Will it defend the Yuan? It will be interesting to see what happens genius.

 

[Yaseen1]

devaluation may improve exports but will reduce yuan ability to become alternative currency to u.s dollar as it reduces confidence of investors to hold yuan as a reserve currency.I think china not want to launch yuan as alternative to dollars but it wants to use gold as alternative to u.s dollars

...and if it crosses $7 more capital outflow from China is likely. It doesn’t help with Cbina’s goal of having the Yuan become a global currency if it starts falling. Will it defend the Yuan? It will be interesting to see what happens genius.

 

[Han Patriot]

...and if it crosses $7 more capital outflow from China is likely. It doesn’t help with Cbina’s goal of having the Yuan become a global currency if it starts falling. Will it defend the Yuan? It will be interesting to see what happens genius.

Use capital controls, Yuan will not be a global currency but it will be an alternative currency with Russia, Iran, Venezuela, ultimately trade is about exchanging goods and services not keeping paper. China keep the Yuan stable but if Trump wanna play dirty, we will dvalue the Yuan. Oil trading in Yuan even when not convertible is in the trillions after only one year of operations, next will be the new commodities bourse recently started. You still don't get it, China doesn't needs to globalize yuan, they just need to provide an alternative and that's enough to start the revolution of US decoupling from the whole economy. The biggest threat to USD is Euro not Yuan, why do you think US tried to destroy euro. A lower value currency but stable can still be an alternative to dollar. Chinese Yuan already devalued from 14% which more than enough to offset the tarriffs, that's not including tax breaks etc. Why do you think China trade is still.booming? Lol

Remember when Hamartia thought this would be an easy war and China would bend like Modi? Even after bending Modi is getting screwed, that's why gutless leaders always lose.

 

[Sugarcane]

China burned through 1/3 (over $1Trillion) of its foreign reserves last time the yuan approached $7 genius. Will it do the same this time...interesting question.

I think state don't need to burn forex reserves in devaluation of own currency, but to boost up value of local currency state have to sell forex reserves at cheaper rates.

 

[lcloo]

Let's let the RMB going beyond 8.00. Export from China will be double in no time. Trump's plan will be down the drain.