Evergrande’s Fateful Week, China Holidays Put Yuan in Spotlight
- Closed markets to complicate the search for contagion
- Offshore yuan trading outside of China to come under scrutiny
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The offshore yuan -- the exchange rate for China’s currency trading outside of the country -- is garnering the attention of investors around the world.
Fallout from a potential default by China Evergrande Group hit Hong Kong stocks and the downbeat tone is weighing on markets around the world on Monday, but with mainland Chinese markets closed for holidays, the offshore currency will be a key focus.