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Mike Mackenzie’s daily analysis of what’s moving global markets
Report confirms place as world leader in foreign exchange and eases Brexit fears
Economy is in worse shape than in 2015 and policies to boost growth are not as effective as they once were
Currency rises above key threshold on reports US is weighing dropping certain tariffs on Chinese imports
Trade conflicts have made it hard for China to let its currency trade more flexibly
Measure is one option as advisers debate expanding trade war into capital markets
System takes currency’s drop in stride but underlying forces threaten renewed turmoil
Decline in August comes as Beijing fights trade war and economic slowdown
The next international debt crisis is an accident waiting to happen
There are four good reasons for Beijing to think before shooting
Analysts are taking the threat of intervention in currency markets seriously
Unrest in Hong Kong could accelerate weakening of the renminbi
The US cannot unilaterally weaken the dollar
Breach of key threshold sees currency and its regulator face challenges on many fronts
Trade tensions with the US have inevitably put the renminbi under pressure
Renminbi’s fall stokes US ire
Devaluation may seem tempting, but it helps neither China nor the US
Central bank fixes midpoint for trading band above 7 to the dollar
US allegations that China is manipulating its currency burst into the open again
Political choices about value of renminbi tempered by consequences for growth
Investors must now guess how much pain the two countries will inflict on each other
China sees policy as key to economic stability but Washington views it as manipulation
