Clearly, President Elect Donald Trump is going to have to learn to use his Twitter account a great deal less than he has in the last week. His tweets last night on China are having some ramifications as I read some just crossing headlines.
China had basically rebutted those tweets and is telling Trump to go f#%@ himself. The Trade Exchange is reporting that China has devalued overnight. The USD/CNY is at 7.48 notes XE.com and it is not a glitch. It closed yesterday at 6.88.
How the market handles this Tuesday will be of interest. This story could change between now and tomorrow’s open but it is worthy of your attention.
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http://news.forexlive.com/!/im-gonna-repeat-this-cny-is-not-anywhere-near-74-20161205
glitch. CNY is unch