Tuesday, July 5, 2016
Don’t Look Now, But the Yuan Is Down
The yuan, which briefly stabilized last month while the British pound was declining, is falling again, down another 1 percent against the U.S. dollar in the last two weeks after declining 2 percent in the previous two months. Many currencies are declining as investors move funds into dollars, perceived as a low-risk currency during shaky times. The distraction of Britain might also be taking away some of the pressure on China to support its currency while the news is focused abroad.