The Chinese Yuan is fast losing ground, has hit fresh 2018 low. A weaker Yuan is China’s answer to Trump’s trade war. The USD/CNY pair rose to 6.6145 today – the highest level since December 19. The Chinese currency has been falling of late as the PBOC refrained from raising rates after Fed’s 25 basis point rate hike. Further, it cut the reserve requirement ratio for some banks on Sunday. It appears the Chinese central bank is increasingly favoring a weaker currency as that would help the economy absorb shocks from Trump’s trade war. Â 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 EUR/USD: Stabilizing; Any N-Term Downside Likely Limited Ahead Of 1.1450 – MUFG Yohay Elam 4 years The Chinese Yuan is fast losing ground, has hit fresh 2018 low. A weaker Yuan is China's answer to Trump's trade war. The USD/CNY pair rose to 6.6145 today - the highest level since December 19. The Chinese currency has been falling of late as the PBOC refrained from raising rates after Fed's 25 basis point rate hike. Further, it cut the reserve requirement ratio for some banks on Sunday. It appears the Chinese central bank is increasingly favoring a weaker currency as that would help the economy absorb shocks from Trump's trade war. Â Top 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.
