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China Warming to Idea of Yuan as Trade War Weapon, Analysts Say

  • Market watchers say to expect Chinese currency to weaken more
  • Onshore yuan drops past 7 a dollar for first time since 2008
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Tai Hui of JPMorgan Asset Management discusses the yuan going above the 7 mark and the PBOC’s reaction.(Source: Bloomberg)
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Analysts say the yuan’s sudden slump is a sign China’s central bank will allow more depreciation after the U.S. vowed to hit the country’s products with new tariffs.