USD/CNH Above 7.0000: Trade Wars are Good, and Easy to Win

USD/CNH Above 7.0000: Trade Wars are Good, and Easy to Win

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Now that China has acknowledged that it is using the USDCNH exchange rate to offset the Trump tariffs, the US Treasury has officially labeled China a currency manipulator.

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Get today’s forex trading news, as well as insights and analysis from the DailyFX team. We provide up-to-date forex market news from around the world to help you react to changes in price forecasts and market sentiment.

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Market Outlook

US
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It's been a busy day for the US Dollar with a couple of key drivers coming out of the blue.
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EURO
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The Euro may fall vs the US Dollar if Fed Chairman Jerome Powell’s comments spark risk aversion and boost demand for liquidity.
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ASIA
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The British Pound rose on the latest Brexit news, but it still has a way to go before clearing resistance. Meanwhile, Wall Street wobbles as US manufacturing contracts for the first time since 2009.
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