Global markets were hit by a ‘tsunami of risk aversion’ on Monday in the wake of the yuan’s softening against the US dollar beyond a psychologically important level, according to analysts. Photo: AP
China’s central bank to sell US$4.3 billion worth of yuan-denominated securities, slowing currency devaluation
- Bill issuance in Hong Kong seen as most efficient way to absorb offshore liquidity and prevent further depreciation of yuan
- Traders need to defend worst-case scenarios, especially on the yuan as the bill issuance drains liquidity from offshore markets, analyst says
Topic |
Currency war
Global markets were hit by a ‘tsunami of risk aversion’ on Monday in the wake of the yuan’s softening against the US dollar beyond a psychologically important level, according to analysts. Photo: AP
