China’s yuan suddenly dropped on Monday morning to end a long spell of subdued trading. The offshore yuan fell 0.21% to 6.8948 a dollar as of 11:45 a.m. in Hong Kong. The yuan traded onshore was down 0.19% as the worst performer among 31 major currencies. Yuan liquidity in Hong Kong was loose, making it cheap to short the currency. The overnight Hibor has tumbled 134 basis points in the past five sessions, the longest slump since December. Tiny moves in the yuan had turned it into the world’s dullest currency lately. Investors had been waiting to see what the next development in U.S.-China trade dispute will be. ... (full story)