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ECONOMY

Yuan Sell-Off Gathers Pace On Economy, Trade Fears

The People’s Bank of China appears unfazed by the yuan’s latest depreciation and is content, for now, to allow further declines, Photo: VCG
The People’s Bank of China appears unfazed by the yuan’s latest depreciation and is content, for now, to allow further declines, Photo: VCG

* Wednesday’s official closing price marked fifth straight trading session of declines

* Analysts say investors are betting that the central bank may be forced to loosen monetary policy further to bolster growth

(Beijing) — The Chinese currency extended its losing streak against the dollar on Wednesday, hitting a fresh six-month low as concerns over a looming Sino-U.S. trade war and expectations of further monetary easing by China’s central bank weighed on investor sentiment.

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