Jul 03, 2018 10:53 AM

Update: China Sets Yuan at 10-Month Low

Photo: VCG
Photo: VCG

* Central bank Governor Yi Gang says financial risks are under control, while Deputy Governor Pan Gongsheng said he believes the exchange rate will remain at a reasonable level

* Disappointing economic data, fears of trade war with U.S. have weighed on investor sentiment in past several weeks

(Beijing) — The central bank downplayed concerns over currency depreciation after setting the daily trading midpoint of the yuan at a new 10-month low against the dollar on Tuesday.

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