system
A chat on subreddit /r/wallstreetbets
human
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?

gpt
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.