It was supposed to be a year which set the U.S. and China on a collision course over their respective currencies. Instead 2017 is shaping up to be a period of detente between the yuan and dollar underscored by the recent meet-and-greet between the countries’ two leaders.
As the golf balls flew around the Florida resort playing host to President Donald Trump and his Chinese counterpart Xi Jinping, a broad measure of the Chinese effective exchange rate remained remarkably steady, helping to quell fears that a devaluation of the renminbi could roil broader markets.
