China's Yuan Sinks Past Key Support Level as Trade War Heats Up
- Currency weakens beyond 6.9 per dollar after week-long break
- Looser monetary policy is also weighing on the exchange rate
BofA’s Barty and Morgan Stanley’s Gartside on China and the Yuan
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China’s currency tumbled the most in two months as the nation’s markets reopened after a week-long holiday to worsening tensions with the U.S.
The yuan slid as much as 0.78 percent to 6.9260 a dollar on Monday, falling past the support level of 6.9 for the first time since mid-August. Losses extended after 4:30 p.m. local time, the central bank’s reference point for the currency fixing the next day.