China Strikes Back with Tariffs Prompting Market Uncertainty for USD/CNH
China swiftly retaliated against recent US tariffs by imposing duties on large imports including crude oil, LNG, and farm equipment. They also launched an investigation into Google’s operations within China. Currently, USD/CNH maintains its position, but the significant question remains: will key resistance levels hold when the People’s Bank of China takes action post-Lunar New Year? Market observers are keenly watching to see how these developments will influence currency stability in the coming weeks.