USD/CNY moved 1% lower this week so far - Nomura

Analysts at Nomura explained that this week saw USD/CNY move more than 1% lower. 

Key Quotes:

"That it occurred around the same time as President Trump was criticising German trade suggests that there may be a renewed focus on US trade policy by policymakers around the world."

"The appointment and confirmation of Robert Lighthizer as US Representative for Trade three weeks ago may also provide an impetus for this push. He is a known trade hawk and critic of US trade imbalances with China."

"Therefore, we think the implicit weak dollar policy of the US may reassert itself over the coming months."