China on Alert With Yuan at the Mercy of Overseas Traders
(Bloomberg) — The onshore yuan is on track for a seventh month of losses, and things could get even worse for its less-regulated offshore exchange rate as China goes on a one-week holiday.
The currency traded in Shanghai is matching a record run of monthly losses set during the height of the U.S.-China trade war four years ago. Its realized volatility this week spiked to a level unseen since 2020 as the exchange rate was buffeted by the dollar’s surge and Beijing’s steps to resist yuan weakness.
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