BEIJING/TOKYO -- China has once again started letting the yuan weaken in what appears to be an effort to shield exporters from the blow of additional U.S. tariffs, but the redback's modest decline reveals authorities are far more concerned about a currency that is too weak, not too strong.
Datawatch
China allows weaker yuan but still fights downward pressures
Market forces would sink currency even lower if Beijing did not intervene
The yuan fell below the critical 7-to-the-dollar level in early August, prompting the U.S. to label China as a "currency manipulator". © Reuters
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