### Comment:
Lol got that much, was curious about any significance between onshore vs offshore and why raising the Yuan from 6.92 to 6.98 is not bullish?

### REPLY:
The offshore exchange rate last night was &gt;7 which is what everyone freaked out about. 
  
 China further devalued their onshore currency by moving to 6.98. The 7 level is all psychological but still important. The more China devalues their currency (closer to or above 7 for the exchange rate) the more it essentially negates tariffs since the dollar buys more exports from China.

### END.