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USD/CNH edging higher as Trump holds fire on China for the time being

The US President caused the markets to re-think the moves seen yesterday when he said he might implement 25% trade sanctions Mexico and Canada, but at the same time, he remained silent on China. Of course Trump still has that stick on the table, but right now it seems he prefers to use the carrot when it comes to China. Well, yesterday we saw a nigh on 1000 pip slide in the USD/CNH, when it crumbled further today, to a low at 7.2524 earlier this morning. However, it is on the rebound now and edging back above the 7.28 handle. It is important you keep an eye on the price action here and of course on any further news on Trade and China, as they emerge today. Nothing is certain when it comes to what the US president will say next. He is probably fast asleep right now, but we should brace for more trade related rhetoric, when he gets out of bed later. The USD/CNH is right now at 7.2852
 

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