Are China's Stimulus Measures Unnecessary?
The yuan fell to the lowest level since November 2014 after the central bank strengthened the fixing by less than expected following a slump in the dollar. The Chinese currency dropped 0.6 percent against a trade-weighted basket that includes peers such as the euro and the yen. The People’s Bank of China set the reference rate 0.5 percent stronger, compared with a 1.5 percent drop in the Bloomberg Dollar Spot Index on Friday. City Financial Investment Director Peter Toogood discusses with Bloomberg's Anna Edwards in London and Manus Cranny in Dubai on "Countdown."
Most Recent Videos
Full Show: Bloomberg Daybreak: Americas (09/21)
36:03 - Bloomberg Daybreak: Americas hosted by David Westin, Jonathan Ferro, and Alix Steel. Guests include Joachim Fels, global economic advisor at Pimco, Steve Liberatore, managing director at TIAA Investments, and Jim Caron, senior fixed income portfolio manager at Morgan Stanley Investment Management. (Source: Bloomberg)