China’s yuan slipped on Friday to its weakest since December 2007, hit by capital outflow pressures and a yield gap with major economies, particularly the United States. The yuan, one of region’s worst performing currencies, is on track to log its biggest weekly loss since February and has shed roughly 6.1% against the dollar so far this year. Analysts and traders expect the currency to face selling pressure in the near term from a faltering economy but the pace of depreciation will likely be measured. The central bank again set stronger-than-expected guidance for the yuan through its fixing. Prior to the market’s ... (full story)