China’s yuan struggles to find floor as tariffs loom
China’s yuan extended losses
for the 11th day on Thursday, knocked down by corporate demand
for dollars as Washington and Beijing prepare to impose new
tariffs on each other’s goods.
The Chinese currency stumbled lower in spite of
firmer-than-expected central bank guidance via its daily fixing
and state bank support.
The Trump administration on Wednesday made official its
extra 5% tariff on $300 billion in Chinese i
for the 11th day on Thursday, knocked down by corporate demand
for dollars as Washington and Beijing prepare to impose new
tariffs on each other’s goods.
The Chinese currency stumbled lower in spite of
firmer-than-expected central bank guidance via its daily fixing
and state bank support.
The Trump administration on Wednesday made official its
extra 5% tariff on $300 billion in Chinese i
Posted by Reuters
