From a CNY point of view, Trump has the Chinese in a vice. If the CNY doesn't devalue, the PBOC will have to keep bleeding reserves to keep it steady and the economy will become steadily less competitive. If the PBOC does allow devaluation Trump will have congress label China a currency manipulator and impose tariffs neutralizing any benefits to its exporters who will still face higher cost imported inputs. And none of this is going to help the domestic Chinese political scene.
BDR Price at posting:
29.5¢ Sentiment: None Disclosure: Not Held
