Yuan Slides on Report China Considering Weaker Currency in 2025
- Beijing mulls letting the yuan drop to 7.5, Reuters reports
- Weakness is ‘inevitable’ but sharp drops unlikely, Mizuho says
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China’s yuan slid the most in a week following a report that Beijing is considering allowing the currency to weaken next year in response to the threat of a trade war with the US.
The offshore yuan dropped as much as 0.5% to 7.2921 per dollar after Reuters reported that policymakers are mulling letting the currency depreciate, possibly to around 7.5 per dollar. It later trimmed declines.