The Chinese yuan hit a 13-month low against the dollar on July 29, amid weaker central bank fixing and a worsening trade war with the U.S.. The yuan weakened to about 6.84 to the dollar, after the People's Bank of China (PBOC) said it would ease credit conditions and developments in the global trade environment. But traders said that market sentiment remains relatively stable, despite the recent losses.
The Chinese yuan hit a 13-month low against the dollar on July 29, amid weaker central bank fixing and a worsening trade war with the US. The yuan weakened to about 6.84 to the dollar, after the People's Bank of China (PBOC) said it would ease credit conditions and developments in the global trade environment. But traders said that market sentiment remains relatively stable, despite the recent losses.