Yuan Plummets to a 2-year Low After Powell Rocked Financial Markets
The Fed’s hawkish message sent bond and stock markets swooning, with the dollar updating a 20-year high. The yuan weakened to a fresh two-year low after Fed Chair Jerome Powell signaled a long-term rate hike, prompting the People’s Bank of China to tighten the currency tighter than expected to limit the currency’s slide. The dollar/yuan […]
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