Yuan near record lows as markets await US diplomatic response

The offshore yuan is near record lows against the dollar while diplomatic tensions between the United States and China rise, which could lower the price of Chinese-produced metals and minerals.

In offshore markets, which are less tightly controlled than markets in mainland China, the yuan briefly hit a record low of 7.20 to the dollar on Thursday May 28. The following day it was trading slightly above that level at 7.17 to the dollar. The yuan is under...


William Clarke

June 01, 2020

08:34 GMT