All of that seemed to suggest the end to a record weekly losing streak was in sight. Then on Friday afternoon the yuan’s retreat started all over again as tensions between the US and Turkey sent the lira and other emerging-market currencies tumbling.
On Monday, the People's Bank set the yuan’s fixing at the lowest in more than a year, an acknowledgement that it’s pretty difficult to resist when everything else is falling against the greenback. China’s yuan was down 0.51 percent at 6.88 a dollar as of 04:00 pm in Shanghai.
Source: bloomberg.com
