Don’t Look Now, But China’s Yuan Just Dodged Its Longest Losing Streak On Record

The onshore yuan narrowly averted logging an eleventh day of losses on Thursday. The currency reversed course after Chinese Commerce Ministry spokesman Gao Feng appeared to extend something of an olive branch to the Trump administration in the trade war. Were it not for the last-minute stick save, the currency's losing streak would have been the longest on record in data going back to 2007. The PBoC set the reference rate stronger than expected for a seventh straight day, as the central ban