The Yuan Is Crashing (on purpose ??)

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What said team is seeing is nothing short of carnage, because - somewhat paradoxically - even as the Bloomberg dollar index is plunging ever since Trump unleashed his tirade targeting China for daring to retaliate to US tariffs, the offshore yuan is plunging even more, tumbling below 7.13 - a new 11.5 year low - in what the White House can correctly interpret as official intervention to weaken the currency which should be rising against the greenback, yet is doing precisely the opposite.