Yuan Pressure Mounting as Green Shoots Fail to Lift China’s Economic Mood

(Bloomberg) — The yuan is a whisker away from the weak end of its onshore trading band, the latest sign that a recent slew of upbeat economic data hasn’t been enough to bolster the Chinese currency.

China’s currency slid to a four-month low against the U.S. dollar in onshore trading Tuesday and came within a few pips of the lower end of the trading range permitted by the central bank. In the more freely traded offshore market, the yuan has been hovering at a weaker level than the onshore daily limit for some eight consecutive sessions. Signs of stress are also growing in the options market.