China is methodically guiding the yuan lower in response to trade war pressures, aiming to mitigate economic impacts without disrupting financial stability. On Wednesday, the People’s Bank of China continued to weaken the yuan’s daily reference rate for a fifth consecutive session but slowed the adjustment pace. This follows the offshore yuan’s drop to its weakest point since the market’s inception in 2010, amid President Donald Trump’s threat to impose a 104% tariff on numerous Chinese goods.
— new from Bloomberg.com
