Volatility in China’s Yuan Due to Escalating U.S. Trade Friction

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Zhu Jun, director-general of the People’s Bank of China’s international department, made the comments on Saturday to a forum held in the northern Chinese province of Heilongjiang. The U.S. Treasury Department on Monday labelled China a currency manipulator, hours after China let the yuan drop through a key support level to its lowest point in more than a decade. The moves jolted financial markets, fueling fears of a global currency war.

Read moreVolatility in China’s Yuan Due to Escalating U.S. Trade Friction