China is allegedly manipulating its currency, the yuan (renminbi). At the beginning of the week, China let the USD/Yuan (USD/CNY) price jump over 7.0, a level not seen since the beginning of 2008. The USA declared the Asian country currency manipulator for weakening artificially its money. This is all part of the “trade war” because the weak currency is supporting the exports.
Later, the price of the yuan stabilized and so did stock exchanges. But gold, silver, bonds and Bitcoin, supposedly safe-haven assets, remain on relatively high levels.
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