Since te GFC the Yuan has varied between 6.84 & 7.08 Yuan/USD which is 2.4% (pegged within small +/-limits)
Over the same time our AUD has varied between $1.10 & $0.635 USD which is 42% (floating) Please note: Our AUD was pegged to the USD until the mid 80s when Keating floated it.
If the Chinese wanted to really wanted manipulate the currency in lieu of Trump tariffs, they would set the exchange rate @ 8yuan +/USD , IMO. This, IMO would account for trump tariffs but it would increase the price its imported raw materials which, in turn would negatively impact on BHP, RIO,& FMG Iron Ore export price to China IMO.
So, as usual, your opinions vary considerably with the facts
