I last wrote about Trump claiming currency manipulation on China earlier this week, and it sounded questionable at the time. While I stand by the fact-checking that was done within the article, China is losing credibility by the day.

As of the writing of this article, since late Tuesday, China’s yuan edged down about 0.4% to 7.0488 yuan to the U.S. dollar. This is dangerously close to the politically driven threshold of 7 yuan to the 1 USD; this is why you’ll hear discussions in Washington, mostly from Trump’s administration, of the possibilities of sanctions on China.

While the reports from the Federal Trade Commission that come out twice a year have stated clearly that there is not enough qualifying evidence to categorize China as a currency manipulator, Trump’s claims are starting to gain some legs as the Chinese yuan slowly plummets below 7 to 1.

Get the fine details of this story here.

By Marc Charles for Money Talk Radio

Sources: Associated Press

Marc Charles has worked in Radio and Media since 2005. Marc has been active in media in Detroit, Ohio, Canada, and Florida. When he's not blogging for Money Talk Radio, he covers UFC and Boxing at big events, and with his weekly radio show The Octagram. Follow Marc on social media @MarcCharlesMMA & @TheOctagramMMA.