China noted that the presidential elections in the United States “are being held and the result has not yet been determined”. Foreign Ministry spokesman Wang Wenbin noted in a press conference on a comment on the vote that “the elections are an internal US affair and China has no position on the issue.” Yet, in the wake of a possible Trump victory, the yuan is falling against the dollar, discounting the prospect that Donald Trump could win back the White House for a second term: the renminbi drops 0.7% in offshore values, slipping to 6.7270 on the greenback.
This morning the Central Bank of China (PBOC) had set the bilateral parity at 6.6771, strengthening its currency by 186 basis points. The same British bookmakers, confirming a trend more favorable to the tycoon, have changed their valuations giving Trump’s re-election to 8/13, against the 6/5 of Biden’s victory.
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