China’s yuan falls to 2-month low as dollar gains on US election bets
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China's yuan fell to a two-month low at 7.1367 per dollar on Oct 29, 2024; the dollar is near a 3-month high supported by strong US economic data and bets on Donald Trump's potential return in the Nov. 5 election; the yuan is down 1.6% this month; Maybank analysts noted the yuan's decline is linked to rising US treasury yields; optimism exists for Chinese fiscal stimulus ahead of a key leadership meeting; the People's Bank of China set the midpoint rate at 7.1283 per dollar.
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https://www.brecorder.com/news/40329521/chinas-yuan-falls-to-2-month-low-as-dollar-gains-on-us-election-bets
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