USD/CNY wavers after a surprise rise in Chinese consumer inflation

The USD/CNY pair is little changed today as traders react to the rising tensions between the US and China. The pair is also reacting to the relatively strong inflation data from China. US-China tensions rising The USD/CNY pair has been in a downward trend in the past few weeks. The pair has dropped from a high of 7.1768 in May to a low of 6.9335 on Thursday last week. This decline has mostly been because of the overall weakness of the US dollar and the strength of the Chinese economy. In recent weeks, the pair has reacted to the rising