Offshore Yuan Drops Most in a Week as Central Bank Lowers Fixing

Updated on
  • PBOC reduces daily reference rate by most since Sept. 10
  • Fed officials still see U.S. interest rates rising this year

The yuan in Hong Kong fell the most in a week as China’s central bank lowered the onshore currency’s reference rate and Federal Reserve officials indicated that U.S. interest rates will be raised this year.

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