Which Direction will the Trade War Push the Yuan?

Threats and reprisals are rife in the escalating U.S.-China trade war. The ongoing dispute will have major implications for the direction of China’s currency. If the two sides are able to make a deal the yuan will appreciate. However, an agreement appears to be a distant prospect. With President Trump apparently unconcerned about reaching an agreement and President Xi keen to save face, a protracted dispute (and consequent depreciation) is the likely scenario. Insights via @CMEGroup

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