Hello, Yuan Bears? China Will Be Squeezing You Now. Have A Nice Day.

Good news: the offshore yuan rallied the most in three weeks on Thursday, snapping a six-day losing streak in the process, thanks to a variety of factors, including the apparent restart of trade negotiations between Beijing and Washington. On Wednesday evening, the Chinese Ministry of Commerce said the U.S. has invited a Chinese delegation to Washington for talks in “late August”. It's far from clear that's anything to get overly excited about and indeed, the Ministry's statement sound