China Weakens Yuan As Coronavirus Pandemic Rages, Companies Can’t Afford to Pay Workers

As economists worldwide are warning that China’s coronavirus-economic slowdown might be contagious, the People’s Bank of China has again manipulated the yuan weaker to give the China’s sick economy a boost of adrenaline. The PBOC sets the CNY fix 0.27% weaker vs the USD at 7.0012 (markets allowed to trade in a 2% band) & […]