The Chinese RMB rose nearly 4% against the US Dollar in the last two months – closing this week at a 3-year high. Some analysts believe the rally in the RMB was “engineered” by the Chinese government ahead of trade talks with the USA; however, the USD has been weak against nearly all actively traded currencies, with the US Dollar Index (USDX) falling ~4% since the end of March. (In this chart, falling prices = fewer RMB needed to buy one USD.)