Yuan drops to one-month low

The Chinese yuan has fallen to its lowest level in a month against the US dollar, reaching 6.8004 in the domestic market. This decline is attributed to the ongoing strength of the dollar and the increasing expectations of an American interest rate hike. The dollar managed to make broad gains, supported by a surge in demand for safe-haven assets and revised US monetary policy forecasts, which put additional pressure on the Chinese currency and led to six consecutive days of decline. The support for the yuan remains limited due to strong exports and stable trade flows, although tensions in global currency markets persist.

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