US President-elect Donald Trump during a press conference on January 11, 2017 at Trump Tower in New York. Photo: AFP

So the US Treasury just labelled China a currency manipulator, roiling global financial markets. What are the implications?

  • The renminbi, as the Chinese currency is called, weakened to an 11-year low of 7 yuan per US dollar on Monday
Topic |   Currency war

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US President-elect Donald Trump during a press conference on January 11, 2017 at Trump Tower in New York. Photo: AFP
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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

TOP PICKS

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
READ FULL ARTICLE