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Trump and the RMB

With a Trump victory in the presidential election, China’s management of its exchange rate is likely to change in response to more confrontational trade policy rhetoric and the potential for additional protectionism from the United States. After the initial market response of a weaker US dollar, policy-related risks are shifting toward faster RMB depreciation and a less vigorous PBOC defense of the exchange rate’s current level.

Posted August 1, 2017
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