China's yuan nears 13-month low amid falling bond yields

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The Star 1d ago

China's yuan nears 13-month low amid falling bond yields - The Star

Quick Summary:

CHINA's yuan hovered near a 13-month low against the U.S.dollar on Tuesday, pressured by bond yields near record-lows amid a slow economic recovery at home and higher-for-longer U.S.rates dominating investors' minds.

Government bond yields were up after the news, while the yuan was largely unchanged.

The yuan has also been undermined by a dollar being driven up by the prospect of higher-for-longer U.S.interest rates.