USD/CNH Climbs as Chinese Yuan Weakens Amid Tariff Threats
The USD/CNH pair, which tracks the offshore Chinese Yuan, has recorded gains for the second consecutive day, now trading above 7.2800. This upward movement is largely attributed to former US President Trump’s announcement of a potential 10% tariff on Chinese imports, set to take effect soon.
This news has heightened concerns about the future economic conditions between the US and China, complicating the outlook for the Yuan. Investors must stay informed about these tariff discussions and their forthcoming effects on currency strength.