Yuan strengthens past 7 per dollar

Nov. 05, 2019 4:41 AM ETWisdomTree Chinese Yuan ETF (CYB), CNY, FXCHCYB, CNY, FXCHBy: Yoel Minkoff, SA News Editor3 Comments
  • China's yuan has strengthened past the seven per dollar for the first time since August as the U.S. weighs rolling back tariffs on $112B of Chinese imports.
  • The move, if confirmed, "can be regarded as a turning point" in the U.S.-China trade war," according to Ken Cheung, a Mizuho currency strategist.
  • Market expectations have become increasingly upbeat on the prospects of a "phase one" deal that would be followed by a more comprehensive agreement.

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