WRAPUP 1-China’s yuan slumps beyond 7 per dollar as trade war escalation raises economic fears
China’s yuan skidded
against the U.S. dollar on Monday, weakening beyond the key
7-per-dollar level for the first time in more than a decade, as
pressure mounted on the world’s second-biggest economy from an
escalating trade row.
U.S. President Donald Trump stunned financial markets on
Thursday by vowing to impose 10% tariffs on the remaining $300
billion of Chinese imports from Sept. 1, abruptly breaking a
ceasefire in the trade war since his meeting with C
against the U.S. dollar on Monday, weakening beyond the key
7-per-dollar level for the first time in more than a decade, as
pressure mounted on the world’s second-biggest economy from an
escalating trade row.
U.S. President Donald Trump stunned financial markets on
Thursday by vowing to impose 10% tariffs on the remaining $300
billion of Chinese imports from Sept. 1, abruptly breaking a
ceasefire in the trade war since his meeting with C
Posted by Reuters