China's devaluation of the yuan invoked official rebuke from Treasury

The U.S. Treasury Department officially named China a currency manipulator after the Peoples Bank of China devalued the yuan in response to new tariffs that were imposed by the U.S. and set to take effect on Sept. 1, 2019.

While mostly a symbolic move, the naming opened the door for the Trump administration to consult with the International Monetary Fund (IMF) to eliminate any unfair advantage China's currency moves had given the country

https://www.investopedia.com/the-u-s-treasury-officially-labels-china-a-currency-manipulator-4766799

(http://www.autoadmit.com/thread.php?thread_id=5825333&forum_id=2\u0026mark_id=5310074#49610803)

NEW data shows China’s U.S. Treasury holdings have fallen to about $680B, an 18-year low, while gold reserves have surged to record levels near 74 million ounces.

Something big is happening.

https://x.com/i/status/2014341998728110354

(http://www.autoadmit.com/thread.php?thread_id=5825333&forum_id=2\u0026mark_id=5310074#49611170)

China’s central bank set the yuan’s daily fixing below 7 per dollar for the first time in over two years, signaling greater tolerance for currency appreciation. The People’s Bank of China fixed the rate at 6.9929, stronger than the previous session’s 7.0019.

A firmer yuan helps ease trade tensions and boosts the appeal of Chinese assets. Authorities have raised the fixing in seven of the past eight months, reinforcing the signal.

Analysts say the move shows policymakers are comfortable with further gains, especially amid a weaker dollar. The yuan has risen about 1% over the past month and could strengthen toward 6.9 in the near term, supported by strong trade surpluses, capital inflows, and improving market sentiment.

https://x.com/i/status/2014683983997505577

(http://www.autoadmit.com/thread.php?thread_id=5825333&forum_id=2\u0026mark_id=5310074#49611196)