Market News
China Engineers Orderly Yuan Drop as Trade War Threatens Growth - BLOOMBERG
China is guiding the yuan weaker at a carefully orchestrated pace, as the central bank seeks to blunt some of the economic impact of the trade war without destabilizing financial markets.
The People’s Bank of China weakened the yuan’s daily reference rate for a fifth straight session on Wednesday, but moderated the pace of its adjustment. The move came after the offshore yuan on Tuesday slumped to the weakest level since the creation of the market in 2010, as President Donald Trump threatened to push ahead with 104% tariff on many Chinese goods.
