Archive · Business Recorder
China's yuan eases amid softer guidance rate, growing tensions with Europe
SHANGHAI: China’s yuan softened against the dollar on Wednesday after the central bank set a weaker guidance rate for the first time in 11 sessions as growing trade tensions with Europe threaten to slow Chinese exports. The yuan had climbed steadily ahead of this week’s meeting between US President Donald Trump and Chinese leader Xi Jinping, but the People’s Bank of China is worried about the currency appreciating too quickly. “China’s latest extraordinary export wave is showing signs of cresting,” said Andrew Baston, director of China research for Gavekal Dragonomics. “This could produce som...
ZAZTEK archives the headline, summary and publication date so the story stays findable. The full article remains the publisher's. Read it at Business Recorder →