Yuan near record lows as markets await US diplomatic response
Published: Friday, 29 May 2020
The offshore yuan is near record lows against the dollar while diplomatic tensions between the United States and China rise, which could lower the price of Chinese-produced metals and minerals.
In offshore markets, which are less tightly controlled than
markets in mainland China, the yuan briefly hit a record low of
7.20 to the dollar on Thursday May 28. At time of writing it is
trading slightly above that level at 7.17 to the dollar.