China unexpectedly weakened its yuan defense as pressure from a resurgent dollar and poor sentiment pushed it toward a policy red line.
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The Start of De-Dollarization: China’s Move Away From the USD | OilPrice.comSolid fundamentals underpin longer-term stability of yuanThe People’s Bank of China broke out of a holding pattern and set a weaker daily reference rate for the managed currency, implying some flexibility for it to depreciate alongside regional peers amid broad strength in the dollar. The offshore yuan slid as much as 0.3% to lowest since November in reactions to the so-called fixing.
