SHANGHAI -- The yuan touched an 11-month low on Tuesday as China braces for U.S. tariffs, fueling speculation that Beijing is using the currency to gain an edge in trade talks even at the risk of encouraging capital flight.
The Chinese currency weakened to 6.72 yuan to the dollar before bouncing back. The U.S. is set to slap 25% tariffs on $34 billion worth of Chinese imports on Friday, with Beijing poised to impose retaliatory levies on the same scale.
