The offshore yuan has fallen to its lowest level since July, driven by concerns over potential tariffs from the Trump administration. If such tariffs are imposed on Chinese goods, a weaker yuan could offset some of the impact by making Chinese exports more competitive internationally. This dynamic is shaping up as a key theme as markets adjust to the evolving trade landscape.On the technical front, the USDCNH surged sharply higher yesterday, followed by a period of consolidation, and is now making another push higher today. The pair is approaching the July high of 7.3108, with the most recent peak reaching 7.3046. A breakout above the July high would mark the highest level for the pair since
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