• USD/CNY initially dipped but recovered round on Wednesday as market assessed on President Donald Trump's unpredictable trade policies.
• Trump abruptly reversed his decision on Tuesday afternoon to double tariffs on steel and aluminum imports from Canada to 50%, just hours after announcing the hike. The swift policy shift added to market uncertainty and confusion.
• Traders are closely watching U.S.-China trade negotiations and potential economic stimulus measures from China following its recent parliamentary meeting.
• At GMT 07:17,the dollar was down 0.24% at 7.244 against Chinese Yuan .
• Immediate resistance is located at 7.243(38.2%fib), any close above will push the pair towards 7.269(23.6%fib)
• Support is seen at 7.220(61.8%fib) and break below could take the pair towards 7.209(Lower BB).
Recommendation: Be on sidelines
