Yuan Hits One-Year Low, Testing China's Tolerance for Weakness
Photographer: Xaume Olleros/Bloomberg
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The yuan fell to the lowest since August as the dollar rallied, raising speculation that Chinese officials are comfortable with the currency’s weakness.
The yuan fell as much as 0.29 percent to 6.7229 per dollar, while the overseas-traded currency also weakened. Chinese stocks reversed earlier gains, with the Shanghai Composite Index and the Hang Seng China Enterprises Index closing at least 0.1 percent down.