PBoC has allowed weakening in ‘fixing’ rate for the onshore currency for six consecutive sessions
Beijing permits exchange rate to drop below long-defended level
Authorities explore new Asian settlement house to boost global use of renminbi
Traders had expected Beijing to weaken its currency following a week-long market holiday
Benchmark Hong Kong share index down 1.6% after trade shot at Beijing
Washington and Beijing should conduct a joint intervention on the renminbi
Currency softens over weakness in world’s second-largest economy and fear of Trump tariffs
Renminbi under pressure from stronger dollar and concerns about incoming US president’s trade plans
CSI 300 down 4.2% this year and currency slides to 15-month low as Donald Trump’s return weighs on markets
Given the need for a weak renminbi to support export growth, a reprise of the 1985 Plaza Accord with Japan is unlikely
Hang Seng index down 1.5% after Beijing unveils $1.4tn plan to restructure local government debt but no consumer support
China could respond to aggressive new tariffs with bigger stimulus action or currency depreciation, say analysts
Direct participation in Cips system will mean faster settlements and help internationalise use of renminbi
Stronger currency is challenging China’s exchange rate management with US election looming
Asian Infrastructure Investment Bank will provide guarantees and support for developing nations’ ‘panda bonds’
Closer ties with Russia bolster Beijing’s efforts to use its currency more in global trade
China’s reliance on exports is set to fan the flames of protectionism elsewhere
But this may not be obvious to investors who cut their teeth in the past decade
Markets push central bank for a weaker currency to reflect the gap in bond yields with the US
If there is pressure on the Chinese currency, it could have far-reaching economic and political consequences
Shifting US interest rate expectations put pressure on Japan’s yen and China’s renminbi
Tokyo and Seoul voice ‘serious concerns’ after currencies hit by shift in interest rate expectations
Strategists warn of sharp falls against dollar longer term if Donald Trump wins presidency in November and carries out tariffs threat
Chinese currency surpasses euro in November to become second most-used in trade finance
Geopolitical concerns help support the use of the renminbi despite weak foreign investment trends
