Home Politics America US Treasury Blacklists China’s Currency

US Treasury Blacklists China’s Currency



FLASH: The US has not put China on the currency blacklist since Y 1994

Monday, the US Treasury Department labeled China a currency manipulator after Beijing pushed down the value of its RMB Yuan in a escalation of the trade conflict between the world’s 2 biggest economies.

The decision came a few hours after President Trump accused China of unfairly devaluing its currency, marks a reversal for Treasury: In May, it had declined to sanction China for manipulating its currency.

The US has not put China on the currency blacklist since Y 1994

The designation could pave the way for more US sanctions against China.

Earlier Monday, China had allowed its currency to weaken to an 11-yr low at USD/CNH: +1.8% to 7.0993, a move that gives its exporters a price edge in world markets and eases some of the damage from US tariffs on Chinese products.

America First!

Previous articleInvestment Strategy: Buy US Stocks on the Dip
Next articleCanadian Dollar: USD/CAD (CAD=X) bulls might overtake the bears in the long run
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.