http://gata.org/node/18210
http://gata.org/node/18832
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U.S. Designates China a Currency Manipulator
By William Mauldin and Nick Timiraos The Wall Street Journal Monday, August 5, 2019
WASHINGTON -- The U.S. Treasury labeled China a currency manipulator after the Chinese central bank let the yuan depreciate, capping a day of trade-war escalations that sparked a global fall in financial markets and fears the clash could stall America’s economic expansion.
The uncertainty could pressure the Federal Reserve to consider more interest-rate cuts, following its decision last week to lower rates for the first time in more than a decade.
China's yuan fell as much as 1.9% to a record offshore low of 7.1087 to the dollar in Hong Kong, according to data from Refinitiv, putting the currency on course for its biggest single-day loss against the dollar since August 2015, when Beijing allowed a sudden depreciation.
In mainland China, the yuan also weakened beyond the 7-yuan-to-the-dollar level -- which policy makers in recent years have defended -- for the first time since 2008. ...
... For the remainder of the report:
https://www.wsj.com/articles/chinas-currency-...ates-trade-w... * * *
