Yuan Reaches New Low Amidst Trade Tensions

The Chinese yuan has experienced a significant decline against the U.S. dollar, reaching its lowest point since 2023. This depreciation stems from escalating trade tensions between China and the United States, which have significantly impacted global markets and investor confidence. The People’s Bank of China (PBOC) has implemented daily interventions to stabilize the yuan’s value. These efforts involve setting a stronger midpoint than anticipated to counter potential volatility. 🕵️‍♂️