HONG KONG -- The Chinese currency on Tuesday touched its weakest level against the dollar since the early days of the global financial crisis in 2008. While there are signs Beijing is allowing the gradual depreciation, it has little to show for the downtrend, and this could be the beginning of a risky game with a Donald Trump-led U.S.
The Chinese central bank on Tuesday morning announced a reference rate of 6.8495 yuan to the dollar. This marked the eighth consecutive daily decline and the weakest rate since December 2008.
