Currencies: China’s yuan heads for multiyear lows 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, dropped to a roughly 16-year low against the dollar amid growing pessimism. The currency slid by about 0.2% to 7.3293 per dollar as of Thursday morning in New York, according to Tullett Prebon….

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