Yuan Set for Worst Quarter in a Year as Stocks, Bonds Muted
- Currency slipped 3.6% since June on worsening trade tensions
- Government bonds and mainland shares were generally muted
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Yuan traders will be glad to see the end of a volatile quarter that’s set to be its worst in a year.
The currency is down 3.6% in the past three months, a period where it weakened past the key 7-per-dollar level for the first time since the financial crisis. That’s the second-worst performance in Asia, with almost all the declines occurring in August. Stocks and bonds had a more muted quarter, with the Shanghai Composite Index dropping 1.7% and the yield on 10-year government debt dropped moderately.