USD/CNH rises to the highest level in 2.5-years. Escalating Sino-US trade tensions are hurting China’s offshore Yuan. China’s offshore Yuan has dropped to its lowest level since January 2017 and appears on track to test the symbolic level of 7 per US Dollar, courtesy of trade tensions. The USD/CNH pair rose to 6.9865 earlier today, the highest level since January 2017. Back then, the pair had hit a high of 6.9876. The US President Donald Trump abruptly decided on Thursday to slap 10% tariffs on $300 billion worth of Chinese goods, ending a month-long trade truce. As a result, the USD/CNH pair rose from 6.8940 to 6.9677 on Thursday and extended gains further to 6.98 on Friday. With the new US tariffs set to take effect on Sept. 1, China has vowed to fight back. “China won’t accept any maximum pressure, threat, or blackmailing, and won’t compromise at all on major principle matters,” Foreign Ministry Spokeswoman Hua Chunying said on Friday. The escalating trade tensions could end up pushing USD/CNH above 7.00. As of writing, the pair is trading at 6.9775. Pivot levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CAD technical analysis: Signs of bullish exhaustion emerge FX Street 4 years USD/CNH rises to the highest level in 2.5-years. Escalating Sino-US trade tensions are hurting China's offshore Yuan. China's offshore Yuan has dropped to its lowest level since January 2017 and appears on track to test the symbolic level of 7 per US Dollar, courtesy of trade tensions. The USD/CNH pair rose to 6.9865 earlier today, the highest level since January 2017. Back then, the pair had hit a high of 6.9876. The US President Donald Trump abruptly decided on Thursday to slap 10% tariffs on $300 billion worth of Chinese goods, ending a month-long trade truce. As a result, the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
