China’s Yuan Slumps to Seven-Month Low on Weaker Guidance

USD/CNY

Weaker Central Bank Guidance Signals Potential Further Decline The Chinese yuan has recently reached its lowest level in seven months, attributed primarily to a shift in the daily guidance issued by the People’s Bank of China (PBOC). Chinese authorities signal willingness to allow further depreciation of the yuan. By 0323 GMT, the yuan had slipped […]

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