And, depending on where the leaders of the U.S. and China take their trade war next, the crypto-asset rally may indeed have legs. For many, particularly mainlanders, that means avoiding the U.S. dollar and Chinese yuan in favor of bitcoin. The dollar’s exchange rate versus the yen and euro may diverge from its yuan rate as Washington’s debt load explodes. In his zeal with score a “deal” with Xi, Trump misses the extent to which Xi wants no part of one. Still, Trump’s full-frontal assault on Chinese trade is shining a bright spotlight on the dollar-yuan exchange rate.

Source: Forbes May 21, 2019 09:22 UTC