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Yuan Falls to Lowest Since January 2017 After Treasury Report
The yuan fell past this year’s low to a level last seen in January 2017 as the central bank weakened the fixing after the Treasury Department stopped short of declaring China a currency manipulator. The currency slid as much as 0.3 percent to 6.9422 per dollar. The currency, which has slumped more than 9 percent in the past six months, had held near the mid-August low of 6.9340 for most of this month, before the U.S. Treasury issued its semi-annual report overnight. While the Treasury said in the report that direct intervention by China’s central bank has recently been “limited,” the U.S. is “deeply ... (full story)