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.If you enjoy the content at iBankCoin, please follow us on Twitter