BEIJING -- Views the yuan will drop further are gaining ground as signs emerge that China's central bank is preparing interest rates cuts to prop up a faltering economy.
The yuan has sharply weakened in recent weeks as China's economy slowed due to its zero-COVID lockdowns and as interest rates start rising in the U.S. The currency slid 5% since mid-April, touching 6.74 yuan per dollar in the Shanghai market on Tuesday, an 18-month low.
