Offshore Yuan Ends Seven-Day Slide as SAFE Calls Drop ‘Normal’
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The yuan traded offshore snapped a seven-day slide after authorities in China described the currency’s recent decline as “normal” and said the moves shouldn’t be misinterpreted.
The yuan rose 0.24 percent, the most since May 8, to 6.1118 per dollar as of 4:47 p.m. in Hong Kong, according to data compiled by Bloomberg. It lost 1.5 percent in the last seven trading sessions. In Shanghai, the yuan rose 0.03 percent to