Global “ exchange rate war “ has erupted.On the 20th， US President Trump accused Mainland China and the European Union “ manipulating the exchange rate and lowered interest rates “ Minister of Finance Mi Nuqin also said that the United States is closely observing whether China manipulates the exchange rate.The United States， China， and Europe have a major impact on the global financial market from “ to “ exchange rate war “
Trump tweeted on the 20th: “ China， the European Union and other countries have been manipulating their domestic currencies and lowered interest rates， but the United States increases interest rates. The US dollar is stronger day by day， taking away our major competitive advantages.“
Before Trump issued a exchange rate conversation， the exchange rate of the RMB against the US dollar was falling to a year‘s low， while the People‘s Bank of China did not interfere with the degradation; after that， the Bloomberg US dollar spot index fell at 0.8 %， which was the largest in March this year.Declaining; euro / USD appreciated 00 %， and reported to 1.724， and the yen appreciated by about one percent.
Treasury Minister Mi Nuqin also pointed out that “ there is no doubt that the devaluation of the RMB has created unfair advantages for them.We will be cautiously examined whether they are already manipulating the exchange rate “.
Economist Stegriz pointed out this week that “ exchange rate is one of the many tools available in China “;;.
Not only in mainland China， the European Central Bank President Dragger may also join the war at the July 26th meeting. In January of this year， Trump tried to talk about the low dollar exchange rate for the euro， when ECB was extremely dissatisfied.
Since the relationship between major economies in the world was originally on the edge of crisis; crisis “ and now opened the new battlefield of exchange rates. Scholars and experts said that the ending may be quite miserable， and it will impact on other currencies outside the United States and China.Both commodities and emerging assets will be damaged， and the global financial order will be chaotic.
Wall Street‘s most famous foreign exchange expert Nordowe pointed out that “ The real risk lies in the global trade and exchange rate cooperation will disintegrate “ and Trump‘s recent conversation “ indeed from the trade war to exchange rate war “ The current key is whether the People‘s Bank of China will stabilize the RMB exchange rate near 6.8.
Brook， chief economist at the International Financial Association (IIF)， pointed out that the increase in the market‘s concerns about economic growth will cause risk assets and oil prices to fell， and it will be particularly heavy to crack down on raw materials and currencies， including Russia‘s deedIt impacted other emerging currencies in Asia.He also expected that emerging currencies in Asia will be weak for six months “.
Gallo， the global foreign exchange director of Creditkin Group， pointed out that investors pay attention to Trump‘s speeches. In addition， the current risk shelter and other speculators hold high US dollars， and the US dollar may continue to undergo pressure.He said “ As Trump explicitly pointed out that foreign countries manipulating the exchange rate to strengthen the competitiveness， it is now almost determined that he has been auction for the exchange rate; a series of speeches may force the market to reduce the number of dollars in the dollar “
