Economics
Yuan Sinks to Five-Year Low as PBOC Surprises With Weaker Fixing
- Offshore rate slides to record discount to Shanghai level
- China sending out confusing policy signals, Macquarie says
Confidence Crumbles: Yuan Sinks to a Five-Year Low
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The yuan sank to a five-year low after China’s central bank signaled it’s becoming more tolerant of a depreciating currency as intervention costs rise and economic growth slows.
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