Archive for August 12th, 2015

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