China doubles down on defending its currency

China doubles down on defending its currency

HONG KONG—China continued to squeeze the global market for the yuan Friday, sending the cost of borrowing the currency in overseas markets soaring to a near-record high. Investors and analysts say the nosebleed rates are likely to continue as China’s central bank battles to keep the country’s currency from weakening too far and fast. The…

This content is for Standard & Premium Digital Subscribers only.
Log In Subscribe Read For Free (Coming Soon)

Related Posts