Daily Note: Weaponizing the yuan

  • USDCNY breaking 7 is a form of retaliation for “bad faith” negotiations
  • The yuan will devalue another 3% in August and could break 7.5 in 2020 if all tariffs on Chinese imports increase to 25%
  • Capital outflows will likely be capped below US$100bn per month

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05 Apr 2019

Russia: Labour fix

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