Business
Chinese Yuan Breaks Key Level Against Dollar
Currency of China Collapsed below the widely watched level against the dollar, breaking 7 yuan to a dollar for the first time in more than two years.
On Thursday night in Hong Kong, the more freely traded offshore yuan weakened below 7 against the dollar for the first time since July 2020. That has long been a level. important for this currency pair. When the renminbi, also known as the renminbi, surpassed 7 against the dollar in August 2019, the then US President Donald Trump accuse China of currency manipulation.