“The Stakes Couldn’t Be Higher”: Trump, Xi “Navigate Minefield” At First Summit

Today’s China-U. S. summit meeting is an event that could also have enormous implications – in both directions. As Bloomberg’s Richard Breslow notes, one can’t help but be intrigued by the fact that while everyone is looking at the S&P 500, this morning the Shanghai composite traded at its highest level of the year.
Notably, the Dollar relationship to China’s currency relative to the rest of the world’s relationship to the Yuan is following a very similar pattern to last year’s ‘Shanghai Accord’ – stronger Yuan vs USD as China weakens its basket against all majors. Fooling Trump et al. that China is ‘not’ devaluing?

This post was published at Zero Hedge on Apr 6, 2017.