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If It Was A Rally In Chinese Stocks, Yuan You Were Looking For, You Got One
If it was a rally in the yuan and Chinese equities you were hoping for following the trade truce struck on Saturday evening between Donald Trump and Xi Jinping, you were not disappointed.
Although there's rampant tomato throwing from the peanut gallery regarding the extent to which the interim truce is nebulous and unlikely to prove sustainable after the initial 90-day ceasefire, that didn't matter on Monday.
The yuan logged its largest one-day gain since February 2016, vindicated those who ha
