China Lets Yuan Tumble Past 7 Per Dollar as Trade War Escalates

Currency sinks after China’s central bank weakens fixing
Yuan hadn’t traded lower than 7 versus greenbank since 2008

Worry About a Currency War if Yuan Weakens Further, Says Alphabook’s Malone

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By Tian Chen

August 5, 2019 at 1:19 AM UTC

Updated on

August 5, 2019 at 8:54 AM UTC

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The yuan plunged beyond 7 per dollar for the first time since 2008 amid speculation Beijing was allowing currency depreciation to counter President Donald Trump’s latest tariff threat.