RMB moves; Hong Kong warnings; US farmers su…

The RMB rumble continued overnight as the US declared China a currency manipulator, a move that is several years too late, not in accord with current reality and generally just looks weak and desperate. The fact is that China has been manipulating the RMB to keep it artificially strong, as the US has wanted, so the message from the Treasury announcement is basically we only get mad when you stop manipulating in the direction the US wants.

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