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USD/CNH slides on WSJ report
As just noted in the previous update, according to the Wall Street Journal, President elect Donald Trump is going to delay the implementation of trade tariffs on the likes of China, Canada and Europe. This report cannot be confirmed as holding any truth, but such is the reporting power of the WSJ these days, that quite often it does not need to. So, the US dollar versus the offshore Chinese Yuan has slumped by more than 600 pips on the day now and that has helped to force the Yen higher at the same time. The USD/JPY has now dropped back towards 155.50 and this has seen the major Yen crosses fall back somewhat too. The USD/CNH was trading above 7.3450 earlier today. It has not long ago hit a session low around 7.2800. It is currently trading at 7.2893
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