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Analysts at Danske Bank note that there are signals of deteriorating diplomatic relations between China and the US  following US Secretary of State Michael Pompeo’s visit to China, where the state secretary received a public rebuke from China’s foreign minister.

Key Quotes

“The purpose of the visit was to decide on a date for a future summit between Donald Trump and Kim Jong-un, which now seems uncertain. In another sign of the strained relations between the two countries, according to Bloomberg news, the US treasury department is contemplating whether to name China as a currency manipulator in a report due out next week following the yuan’s sharp depreciation recently.”