Historic Low for Offshore Yuan

In a significant development, China's offshore yuan has plummeted to its lowest ever level against the US dollar. This downturn comes as the trade conflict between the two global economic powerhouses intensifies, with no immediate resolution in sight.

Trump's Tariff Threat

Adding fuel to the fire, US President Donald Trump has hinted at imposing further tariffs on Chinese goods. This warning follows a series of retaliatory measures from both nations, including the recent imposition of duties by China on all US goods.

Market Reaction

The dollar saw a notable increase of 0.45% against the offshore yuan, reaching 7.37921 by mid-morning ET. Meanwhile, its value remained stable against the onshore yuan, trading at 7.30632 shortly after.