New Overnight Developments Abroad - Daily Update
Yuan Decline Triggers Fresh Drop in Global Equities and Sovereign Debt Yields
August 12, 2015
The yuan fell by a further 0.9% against the dollar to 6.38, and in Hong Kong offshore trading the quote sank to 6.552. Chinese central bank officials played down the development as a temporary adjustment to the new pricing system that will be more heavily influenced by market forces. They asserted that economic fundamentals do […] More
