Currencies
Yuan Falls Versus Everything as China’s Tariff Relief Valve
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China is letting the yuan weaken against almost all major currencies to support its teetering economy as a trade war with the US deepens.
The onshore yuan dropped to levels last seen during the global financial crisis against the dollar on Thursday, before paring the move with China’s top leaders set to meet on economic stimulus. The yuan also fell to a 15-month low against a basket of its trading partners’ currencies.