China's yuan fell past a key level of 7 to the dollar, which Beijing suggests was in response to President Trump's latest move to broaden tariffs on Chinese goods.
China’s currency Monday fell past the psychologically important level of 7 yuan to the dollar to a record low, days after President Trump threatened to broaden U.S. tariffs to cover essentially all Chinese imports.
The depreciation is likely to exacerbate the U.S.-China trade dispute. President Trump and many other U.S. officials have long accused China of weakening the yuan to make its exports cheaper and gain an unfair advantage in trade. Beijing has denied doing so.
Singapore Latest News, Singapore Headlines
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