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Podcast: The Afternoon Update with Lynlee Foo
Episode: Money in the Market: Chinese yuan hits a 9-month low - Will it fall further?
Description: This week, the Chinese yuan declined to its lowest level in 9 months following the release of grim economic data that added to concerns about weakening growth. China's major state-owned banks were reportedly seen selling US dollars to snap up yuan in both onshore and offshore spot markets, with the measures aimed primarily at helping the currency recover. The People’s Bank of China also set the fixing for the yuan at 7.2 per dollar on Thursday. So what is the near-term future outlook for the yuan, and how will a further fall impact other regi...