Currencies: China’s onshore yuan weakens to 16-year low versus dollar as sentiment darkens


China’s currency is in trouble. Darkening sentiment continued to envelop China, the world’s second-largest economy, on Thursday after data showed the country’s exports fell in August for a fourth consecutive month and imports also declined. The report came on top of already-existing concerns that China is slipping into deflation and its property sector is reeling. The onshore yuan USDCNY, which circulates within mainland China, depreciated to a 16-year low against the dollar amid growing pessimism. The onshore yuan settled at 7.3286 per dollar or its weakest level since Dec. 25, 2007, according to Tullett Prebon. China’s…

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