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China’s central bank eased the Chinese yuan to its weakest level against the dollar in more than a decade on Tuesday.
As trade tensions between the world's largest economies continue to escalate, the US has warned China not to weaken its currency as an alternative to tariffs.
Trump doubles down on claims that China and the EU are currency manipulators and warns: ‘I’ll still win’
"What they’re doing is making up for the fact that they’re now paying ... hundreds of millions of dollars and in some cases billions of dollars into the United States Treasury," Trump told Reuters.
China is printing money for countries like Poland and Brazil at ‘full steam’ as it tries to expand its influence on the global economy
Money-printing plants across the country are running at close to full capacity to meet an unusually high quota set by the government this year, multiple sources from the China Banknote Printing and Minting Corporation told the South China Morning Post.
As the yuan holds close to its lowest levels in more than a year, China's central bank announced on Friday it will raise the amount of cash required to set aside when buying dollars through currency forwards.
The Chinese yuan tumbled to a 13-month low Tuesday as Beijing announced it would pursue tax cuts and other expansionary measures, spurring expectations for loosening monetary policy.
China's currency fell Wednesday to its lowest level against the dollar in more than a year amid a dollar rally and an escalating trade fight with the US.
‘China doesn’t need to punish itself for other’s foolish trade policies’: Wall Street warns Beijing against weakening its curr...
The People's Bank of China has tolerated the depreciation beyond its own stated exchange-rate policy. But analysts say yuan depreciation as a tool in a trade war would be too costly.
Bass still thinks that just because a currency is worth 30% less against the dollar, it will actually fall 30% against the dollar.
"They are a currency manipulator, but the opposite," Larry Fink said on Thursday on CNBC.