REUTERS/China Daily Futures for the S&P 500 and Nasdaq were down more than 1.4% Mon dya morning, following drops in Asia and Europe. It follows China allowing its renminbi currency to fall below the significant threshold of 7 to the US dollar. The shift will allow China to absorb economic pain from Trump’s trade war […]
China just let its currency fall to an 11-year low — a sign Beijing is ready fight back in Trump’s trade war
REUTERS/China Daily China’s central bank on Monday let the yuan tumble beyond the key 7-per-dollar level for the first time in more than a decade, citing the trade war as the reason for devaluing the currency. It’s being taken as a calculated gamble that Beijing might be willing to tolerate currency weakness to avoid capital […]