China’s Yuan Weakness Shows in Record Slide Versus Peers
- The trade deal, Hong Kong among factors affecting the currency
- Currency is close to erasing gain against peers this year
Photographer: Paul Yeung/Bloomberg
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China’s currency has moved away from testing its 2008 low versus the dollar, but that’s not stopped the yuan from weakening against its peers.
The yuan has fallen for a record 16 straight days against a basket of trading partners’ currencies -- the longest run since the basket was created in 2015 -- and is close to erasing its gain versus those exchange rates this year, according to data compiled by Bloomberg. The yuan slumped more than 4% versus the euro and Australian dollar over that period, while it has strengthened about 0.4% versus the greenback.