FX as a Trade War Tool?

FX as a Trade War Tool?

By Blu Putnam, Chief Economist, CME Group


  • Chinese yuan has been sensitive to developments in the trade war
  • Hidden policy agenda behind fluctuations in yuan vs US dollar?
  • Yuan rises to 6.7 per USD when US-China trade deal seems likely
  • Yuan hits ceiling of 7 per USD as tensions rise, deal seems remote
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