Russia and China are playing the Currency Devaluation game, the US President Donald Trump tweeted.
“Russia and China are playing the Currency Devaluation game as the U.S. keeps raising interest rates. Not acceptable!” Trump tweeted on Monday.
The People’s Bank of China (PBOC) weakened the official midpoint since August 2015 when China shocked the global markets by allowing the yuan to weaken almost 2 percent overnight.
Now, the yuan has significantly strengthened against the US dollar.